Tuesday, October 25, 2022

Trapped Funds: Nigeria’s Central Bank to Release $120 Million to Foreign Airlines

 

INTRO


The Central Bank of Nigeria (CBN), says it will release $120 million to settle outstanding trapped funds of international airlines operating in the country.

 

Some of the airlines under the International Air Transport Association, have been in a running battle with the Nigerian government over their inability to repatriate $464 million revenue in line with the Bilateral Air Services Agreement they have with Nigeria.

 

Ajeck Mangut reports from Abuja.


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