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Global airlines body, International Air Transport Association, disclosed that as at April 2023, airlines trapped funds in Nigeria amounted to $802m. This is about half the total amount of trapped airlines fund in Africa which stood at $1.6Billion within the same period.
Referring to these funds interchangeably as both trapped and blocked, IATA said Africa’s Central Bank vaults holds 66 percent of such funds. Fadeni pointed out that government should be an enabler, providing the needed environment for legitimate businesses to thrive. He said, “NAHCO shares in this hope as also expressed by majority of local and international businesses. We are poised to take advantage of business – enhancing policies of the in-coming administration, he stated.”
The Group Managing Director/CEO of the Company, Mr. Indranil Gupta, said the Company achieved quite a number of milestones in the Year 2022 including the ISAGO recertification of its operations in Lagos, Kano and Abuja.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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