Turkish Airlines, Emirate Airlines, British Airways, and a host of foreign airlines might leave Nigeria very soon if funds trapped in the country are not released soon.

In its media briefing held on Friday, the International Air Transport Association (IATA) raised an alarm over the total amount owed by countries in Africa and the Middle East, apportioning over 70 percent of the total debt owed by Africa to Nigeria.

Kamil Alawadhi, Regional Vice President, Africa and Middle East, speaking at the press briefing, said, “Nigeria alone accounts for almost half of blocked or trapped funds valued at US$2.57 billion.”

Nigeria’s debt or trapped funds belonging to these foreign airlines is $792 million, just $66 million short of the total trapped funds owed by Egypt ($348 million), Algeria ($199 million), the XAF zone ($183 million), and Ethiopia ($128 million).

Some would say this situation calls for the Federal Government to declare a state of emergency in the aviation sector to save the country and especially the sector from being blacklisted as a no-fly area in the future.

Culled from Business Day Online

We will still survive.

Useless 4kn zoo of a country filled up with bastardzzz animals claiming Hunan beings

vivaciousvivi:
Turkish Airlines, Emirate Airlines, British Airways, and a host of foreign airlines might leave Nigeria very soon if funds trapped in the country are not released soon.

In its media briefing held on Friday, the International Air Transport Association (IATA) raised an alarm over the total amount owed by countries in Africa and the Middle East, apportioning over 70 percent of the total debt owed by Africa to Nigeria.

Kamil Alawadhi, Regional Vice President, Africa and Middle East, speaking at the press briefing, said, “Nigeria alone accounts for almost half of blocked or trapped funds valued at US$2.57 billion.”

Nigeria’s debt or trapped funds belonging to these foreign airlines is $792 million, just $66 million short of the total trapped funds owed by Egypt ($348 million), Algeria ($199 million), the XAF zone ($183 million), and Ethiopia ($128 million).

Some would say this situation calls for the Federal Government to declare a state of emergency in the aviation sector to save the country and especially the sector from being blacklisted as a no-fly area in the future.

Culled from Business Day Online

@OP, my prayers are always with you whenever I remember the generator you sold to me last year.

May the universe come to your favour anywhere you find yourself in life.

4KNGOATS:
Useless 4kn zoo of a country filled up with bastardzzz animals claiming Hunan beings

Omo! You don vex o.
While there are harsher economic conditions across the world post-covid, I am just shocked how low Nigeria is falling economically in such a short spate of time.

Google news is geadling P & G exit this morning. CBN is talking of bank recap again etc. Its one stale news after the other.

slan87:



@OP, my prayers are always with you whenever I remember the generator you sold to me last year.

May the universe come to your favour anywhere you find yourself in life.

Hey! My brother! Amen and Amen to your prayers o.

Although I sold 3 gens and unsure which one you are referring to sha . Glad to know it's serving you well. Thank you too for the purchase.