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  • Chidozie Uzoezie

Nigerian Government to Release $300mn to Foreign Airlines


Nigerian government says it has directed the Central Bank of Nigeria (CBN) to release a total of USD300 million in unremitted revenue to foreign airlines, ch-aviation reports. The announcement comes after IATA put Nigeria in the same category as Venezuela in June this year after complaints from foreign carriers that they were owed USD591 million by the CBN. Repatriation issues first arose during the second half of 2015 when dramatic falls in oil-related export earnings lead to shortages of foreign currency on Nigeria's official market. Given the situation, and given a worsening scarcity of Jet A1 fuel, international airlines have either withdrawn from the market completely or dramatically scaled back their operations.


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Comments (25)

Guest
Sep 21, 2022

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Guest
Sep 30, 2022

Wow! Stunning! Hilton seems to be taking Africa by storm. Just a couple of years back, they opened the first ever in Eswatini.

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kasarokcaesar
Oct 24, 2022

Wonderful event and topics discussed, hopefully we see the manifestations in our African airline businesses in the nearest future. Kudos to you all.

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Guest
Nov 10, 2022

Hi, I'm Lucy. Please how do I embark on my travel/ tour business. I am newbie and help..

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Guest
Nov 18, 2022

Prices in the Sol Torremolinos Don Pablo are the same than two weeks ago.

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Guest
Dec 04, 2022

Good location astounding b