Sifax Relocates Terminals From Tin Can Port To Apapa


…Appoints Olusinde Executive Director

Indigenous conglomerate; Sifax Group, operators of Ports and Cargo Terminal at the Tin Can Island Port has relocated two of its bonded terminals from Tin Can Island Port to the Apapa Port.

The implication of this transfer is that all import transactions would be done under Apapa port Customs command.
DAILY TREND NEWS learnt that the group recently acquired a bonded terminal at Tin Can Port; Mid Maritime Bonded Terminal in a 70-30 agreement which now puts Ports and Cargo in charge of all operations at the terminal.

The group has also reportedly converted one of its holding bays at Okota, a suburb of Lagos into a full bonded terminal. The terminal called Okota 2 is located adjacent to its vehicle bonded terminal, Okota 1 and managed by same terminal manager.

A reliable source confirmed to our correspondent that “Right now we have a new boded terminal, Mid maritime, it was formally under Tin Can Port, but today it is under Apapa command.

Most of the vessels coming in under MSC shipping meant for Tin Can Port are now moved to Apapa”

“Before now, we have Sifax Okota which was under Tin Can, and we have another one adjacent it where they discharge empty containers, this has also been converted into a bonded terminal under Apapa command, they call it Okota 2, but it is managed by the same terminal head”

Speaking with journalists at a press conference on its midyear activities recently, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group however assured that Ports and Cargo is not taking its business out of Apapa or Tin Can port.

Despite the traffic gridlock and challenges, he said the committed to its investments in Nigerian Ports.
Meanwhile, the group has yesterday announced the appointment of Barrister Olutunji Olusinde as the new Executive Director, Legal Services and Company Secretary.

Until this appointment, Olusinde, who joined the company in 2006 as the Head, Legal/Claims, served as the General Manager, Legal Services.

He holds a Bachelor of Arts degree in History from the Obafemi Awolowo University, Ile-Ife; Bachelor of Law degree and Masters of Law degree from the University of Lagos, and was called to the Nigerian Bar as a Solicitor and Advocate of the Supreme Court in 2000.  

He is a professional member of the Nigerian Bar Association (NBA), Chartered Institute of Arbitrators (CIArb), Certified Institute of Shipping and Maritime Arbitrators Association of Nigeria and many more. He has attended several courses, seminars and workshops in insurance, taxation, shipping, arbitration and law both within and outside the country.

Speaking on the appointment, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX Group, said the decision of the company’s Board of Directors to appoint Olusinde was a strategic one based on his strong work ethic, dedication, commitment and high-level skills, which he has displayed convincingly in the course of his duty. 

He said: “This new appointment is designed to strengthen expertise at the senior executive level of the company. We are currently restructuring the business for improved performance so we could deliver better value to all our stakeholders.

We recognize that the quality of our people is directly proportional to the fulfillment of this objective and that is the major reason this appointment was made. 

“The new Executive Director is not only a thorough-bred legal mind, but also a respected maritime expert, who has contributed immensely to the growth of the company.”

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