The money managers will raise the rest of the funds. More than one manager was selected to enable adequate coverage of Africa’s most populous country and also create healthy competition, said a senior official of the central bank, who asked not to be identified, citing rules.Maritime Insecurity: Nigeria Loses $26.6bn annually, Says President Buhari
“Given our economic aspirations and our commitment to international trade, ensuring the security of shipping lanes within and proximate to our waters is in our national interest. “The integration of these sensors into the Falcon Eye system generates a real-time situational awareness of the activities of vessels in Nigerian maritime domain and some selected parts in the Gulf of Guinea.
“It is estimated that Nigeria loses about $26.3 Billion annually to various forms of criminality, particularly piracy and sea robbery.” He added that these initiatives had significantly increased our national capabilities in the areas of maritime surveillance and criminal interdiction within our territorial waters.
On training of personnel to mann the facility, he said it consist of a tactical training centre and to conduct of eight cycles of training for personnel in six training categories such as technical training and training the trainer.