million in Nigeria.
IATA noted that the funds in Nigeria were about 25 per cent of similar funds stuck in other countries as of April. Nigeria was in a similar condition in 2016, when stranded foreign airlines’ funds from ticket sales rose to $600 million. Though the problem is not new, Akporiaye noted that NANTA had consistently appealed to the government to prioritise the repatriation of airlines’ funds. She said the current situation presents a real threat to the industry and the continuity of their businesses as travel professionals.
She said: “We, once again, appeal to the Central Bank of Nigeria , the ministry of aviation and the office of the Vice President to speedily intervene to bring down the number of trapped funds, to help resolve the operations of these airlines.
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