Nigeria is no longer indebted to foreign airlines
The controversy over the actual amount Nigeria owes the foreign airlines has finally been put to rest as the International Air Transport Association (IATA) has finally confirmed that Nigeria has paid 98 per cent of the trapped funds.
The Director General of IATA, Willie Walsh dropped the information during a world press conference at the ongoing 80th Annual General Meeting in Dubai, United Arab Emirates.
According to Willie Walsh: “As of April 2024, 98% of these funds have been cleared. The remaining $19 million is due to the Central Bank’s ongoing verification of outstanding forward claims filed by the commercial banks.
“We commend the new Nigerian government and the Central Bank of Nigeria for their efforts to resolve this issue. Individual Nigerians and the economy will all benefit from reliable air connectivity for which access to revenues is critical.
We are on the right path and urge the government to clear the residual $19 million and continue prioritizing aviation,” said Walsh.
