The federal government is reportedly still owing foreign airlines about $29 million despite the recent report of the Central Bank of Nigeria clearing all outstanding foreign exchange backlog. However, this contradicts reports suggesting that the owed amount is as high as $700 million.<\/p>\n
According to Nigerian Tribune, the $29 million falls under the category of unverified debts, which the affected airlines could not present to CBN during the reconciliation of their accounts. It has been revealed that only the commercial banks of the airlines are still holding onto the funds, despite CBN’s directive to release them.<\/p>\n
Mrs. Susan Akporiaye, the leadership of the National Association of Nigerian Travel Agents (NANTA), acknowledged that the government had almost settled its backlog debts to foreign carriers, except for those that could not be properly verified. She suggested that any debts mentioned by the airlines must be those held by commercial banks.<\/p>\n
While emphasizing that only the International Air Transport Association (IATA) can confirm the actual amount owed by Nigeria and its commercial banks, Dr. Samson Fatokun, IATA’s representative in West Africa, refuted the $700 million figure, stating it was valid three months ago. Fatokun urged airlines to contact their banks for clarity, promising a clearer position on Monday based on verified data.<\/p>\n","protected":false},"excerpt":{"rendered":"
The federal government is reportedly still owing foreign airlines about $29 million despite the recent report of the Central Bank of Nigeria clearing all outstanding foreign exchange backlog. However, this contradicts reports suggesting that the owed amount is as high as $700 million. According to Nigerian Tribune, the $29 million falls under the category of […]<\/p>\n","protected":false},"author":14,"featured_media":24287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-24284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=24284"}],"version-history":[{"count":4,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24284\/revisions"}],"predecessor-version":[{"id":24292,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/24284\/revisions\/24292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/24287"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=24284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=24284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=24284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}