IATA ALERTS NIGERIANS AND CBN THAT SOME INTERNATIONAL AIRLINES MIGHT WITHDRAW FROM NIGERIA DUE TO THE $790 MILLION DISPUTE.

Babatunji Wusu –

The CBN has received a warning from the International Air Transport Association (IATA) that if action is not taken to address the $790 million in ticket income that is now stuck in Nigeria, certain foreign airlines may be forced to withdraw from the country.

At a media briefing with African journalists on December 7, 2023, the IATA Regional Vice President, Africa & Middle East, said that, despite their inadequate facilities, Lagos and Abuja airports have been named as the most costly gateways in the area.

He claims that the largest quantity of airline-trapped monies is presently held by the Nigerian government.

According to the IATA VP, Nigeria has the most frozen airline cash at $792 million, followed by Egypt ($348 million), Algeria ($199 million), the AFI zone ($183 million), and Ethiopia ($128 million).

He claimed that although Ethiopia has devised a plan to pay off the debt, Nigeria has not yet taken any independent action.