Trapped funds

Blue Economy: Tinubu Appoints New Executive Directors For NPA, NIMASA

Trapped Funds: Tinubu Assures Investors Ease Of Repatriation

In line with Nigerian government’s increased efforts to attract more businesses to the country, President Bola Tinubu has assured foreign investors that repatriating funds will be easy going forward.

Victor Ezeja

1 year ago

Business

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

The International Air Transport Association (IATA) has disclosed that foreign airlines’ trapped fund in Nigeria has increased to $802 million. Prime Business Africa previously reported five months ago that the trapped fund

Fakoyejo Olalekan

2 years ago

21 International Airlines Operating In Nigeria

Business

Foreign Airlines Increase Forex Rate On Ticket Charge In Nigeria

International airlines have raised the foreign exchange (Forex) rate in their ticket charge for international travel, a move that could lead to a reduction in passenger volume. The foreign airlines have reportedly

Fakoyejo Olalekan

2 years ago

Business

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

The revenue of foreign airlines blocked from repatriation by the Nigerian government has increased to $743 million as of the end of January 2023. According to the International Air Transport Association (IATA),

Fakoyejo Olalekan

2 years ago

Nigeria Accounts For 35% Of Foreign Airlines’ Trapped Funds Globally

Business

Foreign Airlines’ Blocked Funds In Nigeria Hit $551 million – IATA

Nigeria leads list of countries with blocked funds belonging to foreign airlines, the International Air Transport Association (IATA) has revealed. On Wednesday, IATA disclosed in a list consisting of Nigeria, Pakistan, Bangladesh,

Fakoyejo Olalekan

2 years ago

Business

Emirates Airline Suspends Nigerian Operation In Protest Over Trapped Revenue

Emirates, the national carrier of the United Arab Emirates (UAE), has suspended flights in Nigeria, as the company complains of its revenue trapped in the country. Scarcity of dollar had led to

Fakoyejo Olalekan

2 years ago

Emirates To Suspend Flights To Nigeria Over Inability To Repatriate Earnings

Business

Trapped Funds: Emirates Airlines To Proceed On Suspension of Nigerian Flights Despite CBN Intervention

Emirates Airlines has revealed that the suspension of Nigerian flights will continue after the Central Bank of Nigeria (CBN) released funds to settle protest among foreign airlines over trapped funds. Two weeks

Fakoyejo Olalekan

2 years ago

Trapped Funds: CBN Releases $265m To Foreign Airlines In Latest Strategic Move

In a strategic move to address the issue of trapped funds belonging to foreign airlines and check the brewing crisis in Nigeria’s aviation sector, the Central Bank of Nigeria (CBN) has released

Queen Nwabueze

2 years ago

IATA Increases International Flight Tickets In Nigeria By Over 20%

Editorial

EDITORIAL: Foreign Airlines And Their Nigerian Trapped Dollars

The International Air Transportation Association (IATA) on Thursday announced the frustration of foreign airlines over their inability to repatriate trapped dollars totaling about $464 million as of July, 2022, showing a $14

Prime Business Africa Editorial

2 years ago

Business·Latest News

Air Peace Suspends South Africa Flights On Visa Issues, Aviation Fuel

Nigerian airline, Air Peace, has cancelled flights to South Africa following the challenge Nigerians face in securing the country’s visa. This is affecting the company’s revenue generated from the route. Air Peace

Fakoyejo Olalekan

2 years ago

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Trapped Funds: Tinubu Assures Investors Ease Of Repatriation

Nigeria Blocks $802 million Revenue Belonging To Foreign Airlines

Foreign Airlines Increase Forex Rate On Ticket Charge In Nigeria

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

Foreign Airlines’ Blocked Funds In Nigeria Hit $551 million – IATA

Emirates Airline Suspends Nigerian Operation In Protest Over Trapped Revenue

Trapped Funds: Emirates Airlines To Proceed On Suspension of Nigerian Flights Despite CBN Intervention

Trapped Funds: CBN Releases $265m To Foreign Airlines In Latest Strategic Move

EDITORIAL: Foreign Airlines And Their Nigerian Trapped Dollars

Air Peace Suspends South Africa Flights On Visa Issues, Aviation Fuel

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