Economy
Greenpeace Advises West Africa on Ways to Stop Illegal Fishing
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By Dipo Olowookere
After two months of joint surveillance with local authorities in West African waters, Greenpeace has completed its mission and has recommended ways governments of the region can tackle the issue of illegal fishing.
Greenpeace says an effective regional fisheries management body should be established and national fisheries policies harmonised.
Transparency, including bilateral fisheries agreements, the sharing of resources to optimise Vessel Monitoring Systems for tracking fishing vessels, and the setting up of a black list of IUU vessels and non-cooperating captains in the region must be adopted by all countries, it further suggested.
Greenpeace noted that there was an urgent need to establish a committee to monitor stock assessment and catches to bring fisheries capacity in balance with available resources.
In addition, the voices of local fishing communities, those hit hardest by industrial fishing in the region, must be made central to the planning and implementation of fisheries management. With West African fish stocks plummeting, the need for such a system is urgent.
It said in just three weeks of joint surveillance with local authorities in West African waters, 11 arrests of vessels fishing illegally occurred.
This, it said, is out of 13 fishing regulation infractions identified during the two month ‘Hope in West Africa’ ship tour, which also included fisheries monitoring and civil society and political engagement in a total of six countries.
The results of Greenpeace’s ship tour, which ends this weekend in Dakar, have been compiled in a preliminary report released today. The findings are symptomatic of West African fisheries’ desperate need for effective regulations at a regional level.
In total, Greenpeace and inspectors from Guinea, Guinea Bissau, Sierra Leone and Senegal boarded and inspected 37 industrial fishing vessels in the region.
In Mauritania Greenpeace conducted its own monitoring and presented the findings to the Minister of Fisheries, Mr Nani Chrougha. The 13 infractions included shark finning, incorrect net mesh sizes, transshipment at sea, lack of documentation and fishing outside of permits. The infractions were committed by fishing vessels with Chinese, Italian, Korean, Comoros and Senegalese flags.
According to Hope in West Africa project leader, Pavel Klinckhamers, “After two months at sea documenting and inspecting industrial fishing vessels in the waters of West Africa, it is clear that illegal fishing is worryingly common.
“We also found an eagerness among local fishermen, civil society and governments across the region to address the situation and move towards a sustainable fisheries system. The next step is for these stakeholders to show real commitment in working together towards that goal. We look forward to supporting that process.”
Without decision making powers current managing bodies for the seas, from Cabo Verde to Sierra Leone, including the Sub-Regional Fisheries Commission (SRFC) and the Fishery Committee for the Eastern Central Atlantic (CECAF), can only perform insufficient advisory roles. A lack of transparency on fisheries policies and practices also blights the region. Fisheries authorities’ vessel lists are often incomplete or inaccurate, and the numbers and details of joint venture companies and fisheries access agreements in the region remains opaque.
Also, Ahmed Diame, Greenpeace Africa Oceans campaigner, said “with West African fish stocks already in free-fall, governments must act right now to ensure food security is no longer threatened by overfishing and illegal fishing.
“Fish stocks are not restricted to national boundaries, and that is why the solutions to end the overfishing of West Africa’s waters can only come from joint efforts between the countries of this region.
“Governments must work together to set up and implement an effective regional fisheries management system to safeguard these precious resources now and for generations to come.”
In the latest round of joint surveillance, in Senegal, from 25 to 29 April, Greenpeace and inspectors from the Office of Fisheries Protection and Surveillance (DPSP) identified two cases of illegal fishing. The Marcantonio Bragadin, owned by a Senegalese-Italian joint venture, and Kanbal III, owned by a Senegalese-Spanish joint venture, were both caught using methods to constrict the mesh size of their nets, effectively making the net mesh smaller than the permitted size. The Marcantonio Bragadin reportedly paid a deposit of West African CFA 30 million (€45,700) one day later in order to continue fishing. The Kanbal III will be further investigated by the DPSP.
Greenpeace is handing its report to government representatives from Cape Verde, Mauritania, Guinea Bissau, Guinea, Sierra Leone and Senegal with strong recommendations as to how West African governments can live up to their responsibility and jointly manage both foreign and local fishing activities in order to safeguard their waters and ensure a fair and sustainable distribution of resources at sea. In the coming months, Greenpeace will also share its findings concerning the poor working conditions on board many foreign fishing vessels, where drinking water is often in scarce supply and many local crew are left to sleep, eat and wash outside.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
By Adedapo Adesanya
The Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, July 17, by N1.35 or 0.07 per cent to N1,380.18/$1 from N1,381.53/$1.
It also improved its value against the Pound Sterling in the same market segment during the session by N11.75 to trade at N1,854.42/£1 compared with the previous day’s N1,866.17/£1, and gained N5.69 against the Euro to sell at N1,576.99/€1 versus Thursday’s closing price of N1,582.68/€1.
In the same vein, the Naira chalked up N1 against the United States currency yesterday at the GTBank forex desk to quote at N1,388/$1, in contrast to the preceding day’s N1,389/$1, but closed flat at the black market at N1,405/$1.
The appreciation of the Nigerian currency on Friday came amid fresh signals that Nigeria is building its external reserves for protection against shocks and excessive currency volatility.
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said the country’s gross reserves had risen above approximately $52 billion by 15 July, while net reserves had increased from about $3 billion when the current CBN leadership took office to more than $40 billion.
Mr Cardoso linked the increase in reserves to reforms that had restored greater confidence in the foreign exchange system. He also pointed to efforts to diversify foreign currency inflows, including policies designed to increase remittances through official channels.
He noted that monthly diaspora remittances had risen above $600 million and the CBN expected them to reach approximately $1 billion by the end of 2026. The target is part of a broader effort to grow reserves through recurring inflows rather than temporary measures.
The improvement, he argued, had strengthened Nigeria’s capacity to respond when unexpected events threatened market stability.
The apex bank has also launched a new digital platform that will track every foreign exchange transaction involving Bureau De Change (BDC) operators, marking a major step in its efforts to improve transparency and strengthen oversight of Nigeria’s retail forex market.
As for the crypto market, prices were up as markets overlooked geopolitical developments and macro forces weighing on the whole market ecosystem rather than anything crypto-specific, with Cardano (ADA) up by 4.6 per cent to $0.1661.
Bitcoin (BTC) jumped by 1.8 per cent to $63,968.32, Ethereum (ETH) improved by 0.9 per cent to $1,843.88, Dogecoin (DOGE) also rose by 0.9 per cent to $0.0723, Solana (SOL) soared by 0.6 per cent to $74.90, Ripple (XRP) also appreciated by 0.6 per cent to $1.08, and Binance Coin (BNB) advanced by 0.1 per cent to $567.32.
However, TRON (TRX) depreciated by 0.2 per cent to close at $0.3218, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
