Central Bank of Nigeria Clears $831m Foreign Airlines’ Trapped Funds
6/3/2024
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The International Air Transport Association 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 say the development had brought international airlines’ trapped funds globally to about $1.8bn. The association representing international airlines says the remaining $19m was awaiting the CBN verification through commercial banks. The IATA boss, however, praised the Nigerian government for their efforts in ensuring the successful repatriation of the funds by the international airlines.
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