Foreign Airlines’ Trapped Funds In Nigeria Hit N117bn 

From $147 million (N61 billion) which the International Air Transport Association (IATA) said was the total foreign airlines’ fund trapped in Nigeria in August 2021, the figure has now nearly doubled, reaching $283m (about N117.6bn).

Daily Trust reports that the money accumulated from the sale of tickets by about 30 airlines flying to the country.

The Minister of Aviation, Senator Hadi Sirika, confirmed the new figure of $283m when he spoke in Lagos during the commissioning of the Murtala Muhammed International Airport (MMIA) New terminal.

He said, “Mr President, the aviation business suffers from issues of access to foreign exchange by local and foreign airlines and the ability to repatriate blocked funds.-Daily Trust