Airfares Rise As Foreign Airlines Hike Exchange Rate   International airfares on Nigerian routes have gone up further by over 20 per cent after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. International travellers on Nigerian routes have...

Foreign Airlines Trapped Funds Now $743m – IATA   The International Air Transport Association (IATA) on Tuesday disclosed that the trapped funds belonging to foreign airlines operating in Nigeria have risen by 12.39 per cent to $743,721,097 in January 2023 from $662m in the corresponding period...

Minister Faults Foreign Airlines Over Blocked Funds, Others The Federal Government has dismissed threats by foreign airlines to suspend operations in Nigeria over their inability to repatriate their blocked forex from the country. The Minister of Aviation, Senator Hadi Sirika, said that Nigeria would fare better...

$600m Blocked Funds: Foreign Airlines May Cut Flights   Many foreign airlines are considering further drastic steps to mitigate the effects of blocked funds in Nigeria. The options, according to a highly placed source, include outright stoppage of flights to Nigeria, reduction in frequencies which Emirates Airlines...

Foreign Airlines Express Worry As FG Blocks $450m Ticket Revenue   The International Air Transport Association (IATA) has expressed concern over the decision by the Federal Government of Nigeria to block foreign airlines from repatriating ticket sales revenue running to $450m (N188.6bn) into their respective countries. IATA,...

Foreign Airlines: Nigerians to Buy Tickets in Dollars Foreign airlines operating in Nigeria have agreed to charge Nigerians who want to fly abroad to buy their tickets in dollars. About 32 airlines have consented and says the dollar scarcity in the country is hurting their...