NCAA Committee To Investigate Foreign Airlines Over High Prices Chris Najomo, Director-General of the Nigeria Civil Aviation Authority (NCAA), has set up a 10-person committee to investigate foreign airlines' rising fares in a bid to make air travel more affordable for Nigerians. This was disclosed in...

Ticket Revenue: CBN, Foreign Airlines Clash Over Unpaid $700m   The Central Bank of Nigeria (CBN) and foreign airlines operating in Nigeria have differed over the total amount of unpaid ticket revenue in the country. The CBN on Tuesday said it had ‘concluded the payment of all...

Forex Crisis: In Six Months, Foreign Airlines Repatriate N795.5bn From Nigeria Foreign airlines repatriated N795.5 billion from Nigeria in six months, according to data from the Central Bank of Nigeria. Data from Nigeria’s apex bank Balance of Payment compilation disclosed that airlines withdrew $1.76 billion (converted...

Airlines’ Trapped Funds: Pressure Mounts Despite CBN's $61m There’s a mounting pressure on the federal government to make significant releases to clear the foreign airlines’ trapped funds amidst their threat to exit Nigeria. This is despite the release of $61.4m by the Central Bank of Nigeria...

Nigeria Leads as Airlines’ Trapped Funds In Africa Hit $1.68bn - IATA   Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 with Nigeria topping the list of debtors, the International Air Transport Association (IATA) has revealed. Other countries...

Less Than 10% of $700m Trapped Funds Paid – Foreign Airlines   As stakeholders in the business landscape express relief over the intervention by the Central Bank of Nigeria (CBN) in the foreign exchange market in recent times, foreign airlines operating in Nigeria have disclosed that...