Following the worsening of Nigeria’s forex crises, foreign airlines repatriated funds have risen to $743,721,097 from $662m in January this year.
International Air Transport Association made this disclosure in a letter addressed to the Minister of Aviation, Hadi Sirika, and signed by the Area Manager West and Central Africa, Dr Samson Fatokun.
IATA in the letter appealed to the minister to intervene so the foreign airlines can repatriate their funds.
“For over a year, Nigeria has been the country with the highest amount of airline-blocked funds in the world,” the letter stated.
Details later…