The International Air Transport Association (IATA) on Tuesday said Nigeria has been the country with the highest amount of airline-blocked funds in the world, for over a year. IATA asserted that the trapped funds belonging to foreign airlines operating in Nigeria have reached $743,721,097 from $662million in January 2023. This was contained in a letter addressed to the Minister of Aviation, Hadi Sirika, and signed by the Area Manager West and Central Africa, Dr Samson Fatokun, on Tuesday, which was obtained by PUNCH.
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The House of Representatives Committee Chairman on Aviation, Honourable Nnolim Nnaji has appealed to the International Air Transport Association (IATA) to
The trapped funds belonging to foreign airlines have now increased to $550million, despite the recent intervention of the Central Bank of Nigeria (CBN) to clear part of the funds. The International Air Transport Association (IATA) revealed this Tuesday, saying the fund is about half of the $1.1bn blocked funds in Africa and the Middle East.