Dr. Seinde Fadeni, Chairman of the Board of Nigerian Aviation Handling Company Plc (NAHCO), has urged the Federal Government to release monies held by international airlines in the vaults of the Central Bank of Nigeria (CBN).
“According to IATA, as of April 2023, airlines trapped funds in Nigeria totaled $802 million.” This is roughly half of Africa’s total trapped airline fund, which was at $1.6 billion during the same time period. Mr. Indranil Gupta, the Company’s Group Managing Director/CEO, stated that the Company achieved a number of milestones in 2022, including the ISAGO recertification of its operations in Lagos, Kano, and Abuja.
“NAHCO, Nigeria’s first and largest ground handling service provider, declared a Profit After Tax of N3.842billion for the Year End 2022. This is an increase of 315.4 percent over the N924.86 declared for the same period in 2021.
