The Nigerian Ship Owners Association, NSA, has informed that some of its members are currently grappling with huge financial indebtedness to some banks, which has been aggregated at over $3billion (N480bn) reports the country's National Mirror. NSA, formerly known as the Indigenous Shipowners Association of Nigeria ISAN, is the umbrella body for all fully Nigerian- owned shipping firms made up of over 40 companies, most of which have closed down or at the verge of being closed down.