CBN Pays Off $831m Foreign Airlines’ Trapped Funds – IATA
The International Air Transport Association (IATA) has confirmed that the Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from June last year to date.
The Geneva, Switzerland-based IATA said the development had...
Nigeria, Saudi Arabia Set to Resume Cargo Flight
The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that Nigeria is set to resume cargo flight with Saudi Arabia.
Mr Keyamo made this known during the presentation of his ministerial achievement at the special first...
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...
