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Foreign airlines trapped funds

Anambra APC Chieftain, Nze Duru, Hails Ejidike-Led Exco

Forex Backlogs: APC Chieftain, Nze Duru, Calls On CBN To Investigate Foreign Airlines’ Claim Of Unpaid $700m

Nze Duru, has called on President Bola Tinubu and the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to intervene and order a thorough investigation into the circumstances surrounding settlement of unpaid foreign exchange (forex) claims to foreign airlines in Nigeria.

March 24, 2024

Business

CBN, Foreign Airlines Differ On $700m Trapped Fund

The Central Bank of Nigeria (CBN) declared on Tuesday that it had settled all verified claims by foreign airlines, culminating in an additional payment of $64.44 million

January 31, 2024

Why Nigerian Airlines Have Been Unable To Compete With Foreign Operators - Keyamo

Business·Transport

Forex Crisis: Foreign Airlines Threaten To Exit Nigeria Over Trapped Funds

Minister of Aviation and Aerospace Development, Festus Keyamo, is facing a daunting challenge of preventing more foreign airlines from suspending operations in Nigeria due to trapped funds.

January 23, 2024

News

Trapped Funds: Foreign Airlines Express Frustration Over ‘Paltry’ $61m Payment, Threaten Exit From Nigeria

Foreign airlines operating in Nigeria express dissatisfaction with the initial $61 million payment by the government, warning of potential service withdrawals.

January 14, 2024

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

Business·Currency·Transport

‘Foreign Airlines May Exit Nigeria’s Airspace’ – IATA Ranks Nigeria Country With Highest Trapped Funds

It has emerged that over $792 million belonging to foreign airlines are currently trapped in Nigeria leaving them without dollar bills for their business, a development that is currently hampering their operations globally and making them consider quitting the country’s airspace altogether.

December 11, 2023

Moghalu, British Gov’t Support Tinubu’s Fuel Subsidy Removal, Forex Reforms

Business

Foreign Airlines To Meet With Tinubu’s Gov’t Over $812.2m Trapped Funds

The Regional Vice President of Africa and Middle East for the International Air Transport Association (IATA), Kamil Alawadhi, has disclosed that foreign airlines will meet with President Bola Tinubu’s representatives over their trapped funds. Alawadhi said the foreign airlines will engage with

June 5, 2023

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business

Senate Directs CBN To Give Foreign Airlines 2% Of Foreign Reserves

The Senate has directed the Central Bank of Nigeria (CBN) to increase the foreign exchange allocation to foreign airlines operating in Nigeria. This was made known on Wednesday after a motion titled; “Current Issues on Airlines Blocked Funds in Nigeria” moved by Senator

May 18, 2023

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Foreign airlines trapped funds

Forex Backlogs: APC Chieftain, Nze Duru, Calls On CBN To Investigate Foreign Airlines’ Claim Of Unpaid $700m

CBN, Foreign Airlines Differ On $700m Trapped Fund

Forex Crisis: Foreign Airlines Threaten To Exit Nigeria Over Trapped Funds

Trapped Funds: Foreign Airlines Express Frustration Over ‘Paltry’ $61m Payment, Threaten Exit From Nigeria

‘Foreign Airlines May Exit Nigeria’s Airspace’ – IATA Ranks Nigeria Country With Highest Trapped Funds

Foreign Airlines To Meet With Tinubu’s Gov’t Over $812.2m Trapped Funds

Senate Directs CBN To Give Foreign Airlines 2% Of Foreign Reserves

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