By Elohor Igbru
The Federal Government on Friday released the sum of $265m to foreign airlines operating in the country, which is a part of the monies belonging to the airlines, trapped in the country.
This is in response to the threat by foreign airlines to suspend all flights to Nigeria after Emirates Airline first announced its decision to suspend flights from September 1, 2022.
Emirates $95m revenue had been trapped at the Central Bank of Nigeria.
Confirming the development, CBN Director, Corporate Communications Department, Mr. Osita Nwanisobi, in a statement said the apex bank’s governor, Mr. Godwin Emefiele and his team were concerned about the development and what it portends for the sector and travellers, as well as the country in the comity of nations.
Nwanisobi said the Bank is only interested in the orderly exit of funds and not holding any airline funds hostage as believed. He expressed optimism that there will be a sigh of relief both on the part of the carrier and the flying public over the incident.