The International Air Transport Association (IATA) on Tuesday disclosed that the trapped funds belonging to foreign airlines operating in Nigeria have reached $743,721,097 from $662m in January 2023.
IATA disclosed this in a letter addressed to the Minister of Aviation, Hadi Sirika, signed by the Area Manager West and Central Africa, Samson Fatokun.
“For over a year, Nigeria has been the country with the highest amount of airline-blocked funds in the world. Please find attached the comparative table of airlines’ blocked funds by country. Moreover, as of January 2023, airlines’ blocked funds in Nigeria have increased to $743,721.092 from $662m in January 2023 and $549m in December 2022,” he said.
Fatokun sought the minister’s intervention for release of the blocked funds.
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