Nigerian, African Airlines Cargo Demand Rises 20% in One Months  The International Air Transport Association report says African airlines has seen a 22 per cent year-on-year demand growth for air cargo in February—the strongest among all regions. The intra-Africa trade lane showed 42.3 per cent year-on-year...

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...

$2bn Debt: Airlines Get $62m As CBN Repays Banks The Central Bank of Nigeria (CBN) has paid $2bn to clear a part of its backlog of matured foreign exchange obligations to the Deposit Money Banks. Reports have put CBN’s forward contract obligations to banks at $7bn....

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...

Trapped Funds: FG Directs CBN to Engage Foreign Airlines Regularly  The Federal Government, through the Ministry of Aviation and Aerospace Development has directed the Central Bank of Nigeria to convene quarterly meetings with foreign airlines operating in the country to address the issue of trapped...