Fakoyejo OlalekanThe Chief Executive Officer of Air Peace, Allen Onyema, has criticised foreign airlines over the issue of trapped funds in Nigeria, stating that they are partly to blame for the situation that has prevented them from repatriating their dollar ticket sales.
Onyema said he isn’t against foreign airlines receiving their funds, which was about $464 million according to the International Air Transport Association (IATA) in August before the Central Bank of Nigeria (CBN) released $265 million to enable some of them repatriate their funds.
Join our WhatsApp ChannelSpeaking to the National Assembly, Onyema said the international airlines are using certain narratives to damage the image of the Nigerian government. He said some persons were sponsored to drive the narrative that Nigerian government has failed as a result of the trapped funds.
“The situation whereby people went on television, sponsored some agents to go on television, to bad-mouth the government of Nigeria that it has failed because funds are trapped is unacceptable,” he told the lawmakers.
READ ALSO: EDITORIAL: Foreign Airlines And Their Nigerian Trapped Dollars
According to Onyema, the foreign airlines knew they would have difficulty in repatriating their funds, yet they increase their frequencies of flights out of Nigeria and also increase the cost of tickets, which in turn increases the amount of funds trapped.
He buttressed his point by revealing that during COVID-19, while Air Peace was charging $600 for Heathrow flights, foreign airlines were demanding £2000 for the same six-hour journey.
The aviation mogul said: “We are not against them collecting their monies, they must collect their money, but how do you explain Sir, that somebody flying from South Africa, nine hours to London, is paying less than a Nigerian flying six hours, how do you explain that somebody flying from London to Las Vegas, even now, is paying far less, halve, than what the Nigerians paying for six hours.”
He explained that the international airlines are blackmailing the Nigerian government. According to him, the airlines knew quite well that their funds would be trapped in Nigeria and that they may not be able to get their money, yet they were increasing their frequencies every day, to the detriment of local airlines.
“You are increasing your frequency, knowing fully well you’re inviting to yourself, certain you know, situations. What we are saying is allow Nigerians (airlines) to also access your country, contribute to their nation.
“It’s Nigeria first to me, I don’t care, I know after speaking today, I might face another problem tomorrow, both on the international level and everything, but I don’t care. I’m ready to go down for my country.” Onyema said.
Onyema stated that the foreign airlines should reduce their frequencies in order to solve the trapped fund situation, arguing that Nigeria’s forex reserves have depleted, so the country has no money to give to the international airlines, “Nigeria did not seize these funds, because what is being pushed out there is that the government of Nigeria blocked the funds or seized the funds.
“Central Bank has asked them that you can use the I&E window, just like the Nigerian airlines; are they seizing our money, no, we are going through the I&E window. we do, even the forward thing she was talking about, yes at times they say 90 days or 60 days sometimes you may not get it, but the government cannot kill itself.”
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