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Trapped funds

Blue Economy: Tinubu Appoints New Executive Directors For NPA, NIMASA

Trapped Funds: Tinubu Assures Investors Ease Of Repatriation

In line with Nigerian government’s increased efforts to attract more businesses to the country, President Bola Tinubu has assured foreign investors that repatriating funds will be easy going forward.

December 16, 2023

Business

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

The International Air Transport Association (IATA) has disclosed that foreign airlines’ trapped fund in Nigeria has increased to $802 million. Prime Business Africa previously reported five months ago that the trapped fund was $700 million, rising from $464 million disclosed in July

April 5, 2023

21 International Airlines Operating In Nigeria

Business

Foreign Airlines Increase Forex Rate On Ticket Charge In Nigeria

International airlines have raised the foreign exchange (Forex) rate in their ticket charge for international travel, a move that could lead to a reduction in passenger volume. The foreign airlines have reportedly increased the rate charge for their flight ticket from the

April 4, 2023

Business

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

The revenue of foreign airlines blocked from repatriation by the Nigerian government has increased to $743 million as of the end of January 2023. According to the International Air Transport Association (IATA), the amount rose from $662 million recorded two months ago.

March 15, 2023

Nigeria Accounts For 35% Of Foreign Airlines’ Trapped Funds Globally

Business

Foreign Airlines’ Blocked Funds In Nigeria Hit $551 million – IATA

Nigeria leads list of countries with blocked funds belonging to foreign airlines, the International Air Transport Association (IATA) has revealed. On Wednesday, IATA disclosed in a list consisting of Nigeria, Pakistan, Bangladesh, Lebanon, Algeria and 22 others that about $2 billion revenue

December 7, 2022

Business

Emirates Airline Suspends Nigerian Operation In Protest Over Trapped Revenue

Emirates, the national carrier of the United Arab Emirates (UAE), has suspended flights in Nigeria, as the company complains of its revenue trapped in the country. Scarcity of dollar had led to foreign airlines’ funds being trapped in Nigeria, as the country’s

November 3, 2022

Emirates To Suspend Flights To Nigeria Over Inability To Repatriate Earnings

Business

Trapped Funds: Emirates Airlines To Proceed On Suspension of Nigerian Flights Despite CBN Intervention

Emirates Airlines has revealed that the suspension of Nigerian flights will continue after the Central Bank of Nigeria (CBN) released funds to settle protest among foreign airlines over trapped funds. Two weeks ago, the United Arab Emirates national carrier disclosed that it

September 1, 2022

News·World News

Trapped Funds: CBN Releases $265m To Foreign Airlines In Latest Strategic Move

In a strategic move to address the issue of trapped funds belonging to foreign airlines and check the brewing crisis in Nigeria’s aviation sector, the Central Bank of Nigeria (CBN) has released the sum of $265 million to settle outstanding ticket sales.

August 26, 2022

IATA Increases International Flight Tickets In Nigeria By Over 20%

Editorial

EDITORIAL: Foreign Airlines And Their Nigerian Trapped Dollars

The International Air Transportation Association (IATA) on Thursday announced the frustration of foreign airlines over their inability to repatriate trapped dollars totaling about $464 million as of July, 2022, showing a $14 million increase from what it was in May, about three

August 23, 2022

Business·News

Air Peace Suspends South Africa Flights On Visa Issues, Aviation Fuel

Nigerian airline, Air Peace, has cancelled flights to South Africa following the challenge Nigerians face in securing the country’s visa. This is affecting the company’s revenue generated from the route. Air Peace stated that the slow process in issuing South African visas

August 9, 2022

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Trapped funds

Trapped Funds: Tinubu Assures Investors Ease Of Repatriation

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

Foreign Airlines Increase Forex Rate On Ticket Charge In Nigeria

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

Foreign Airlines’ Blocked Funds In Nigeria Hit $551 million – IATA

Emirates Airline Suspends Nigerian Operation In Protest Over Trapped Revenue

Trapped Funds: Emirates Airlines To Proceed On Suspension of Nigerian Flights Despite CBN Intervention

Trapped Funds: CBN Releases $265m To Foreign Airlines In Latest Strategic Move

EDITORIAL: Foreign Airlines And Their Nigerian Trapped Dollars

Air Peace Suspends South Africa Flights On Visa Issues, Aviation Fuel

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