Tag: trapped funds

Airlines Set to Begin Repatriation of Trapped Funds as Naira Devalues

Hetty

devaluation of the naira is seen reducing airlines’ trapped funds and easing their repatriation from Nigeria, according to industry operators. The chairman of Airlines and Passengers’ Joint Committee (APJC) of the International Air Transport Association, Bankole Benard said what the introduction of the new rate would mean for airlines is that it will reduce the […]

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Trapped Funds of Foreign Airlines in Nigeria Hit Record High

Hetty

A report released today, Sunday, June 4 indicates that the latest figure by the International Air Transport Association (IATA) shows that the of trapped funds of foreign airlines in Nigeria has risen to $8.12.2m. This is as the Switzerland-based trade association of world airlines sounded a warning about the rising levels of blocked funds, which […]

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