The senate, on Wednesday, asked the Central Bank of Nigeria (CBN) to release the $717.4 million foreign airlines’ funds trapped in the country.
The red chamber also called on the CBN to allocate $25 million to airlines operating in Nigeria at its fourth-nightly dollar auction.
At the plenary, the upper chamber called on the federal government to urgently reverse the current trend of increasing airlines’ blocked funds in Nigeria.The committee also asked President Muhammadu Buhari to direct Godwin Emefiele, CBN governor, to pay up the blocked funds to the affected airlines. “In February Nigeria alone accounted for 44 percent of total airlines blocked funds in the entire world.“The total airlines blocked funds in Nigeria as at March amounted to $717,478,606 comprising matured bids that the CBN was yet to deliver, bids yet to mature, and cash balances in airlines’ accounts for repatriation.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate asks CBN to release $717.4m airlines trapped fundsThe Senate, on Wednesday, passed a resolution calling on the Central Bank of Nigeria to release $717,478,606 in airline funds that are
Read more »
Senate urges CBN to release $717.5 million trapped airlines' fundsThe Senate also called on the CBN to allocate $25 million to airlines operating in Nigeria at its fortnightly dollar auction.
Read more »
Firefighters rescue four brothers trapped inside well in Kano | TheCableFighters in Kano have rescued four people trapped inside a well at Dandago Bola community in Gwale LGA of the state.
Read more »
CBN targets 100% financial inclusion, unveils e-learning platform, SabiMONI | TheCableThe Central Bank of Nigeria (CBN) has unveiled an e-learning platform, SabiMONI, to promote financial literacy and deepen financial inclusion.
Read more »
CBN to pay N25/$ rebate to exporters of unprocessed items | TheCableThe Central Bank of Nigeria (CBN) says exporters of raw and unprocessed items will be paid a rebate of N25 for every dollar of non-oil export proceeds sold to third parties at the importers and exporters (I&E) window.
Read more »
Orji Uzor Kalu not endorsed for senate president | TheCableBY CHNINYEMIKE TORTI Recently, some self-conceited partisans went to town speechifying and preachifying the unwary that Senator Orji Uzor Kalu had been endorsed by the south-east caucus of serving and
Read more »