The International Air Transport Association (IATA) has said that the amount of foreign airlines funds trapped in Nigeria currently stands at $743.7 million.
IATA revealed this in a letter addressed to Hadi Sirika, Nigeria’s Minister of Aviation, according to Punch Newspaper.
The letter which was signed by IATA’s Area Manager West and Central Africa, Dr Samson Fatokun, said that the sum rose from $662 million in January to $743.7 million.
The letter noted that Nigeria has the highest amount of airline-blocked funds in the world
According to the letter, IATA and the global airline community seek an invention from the minister for the resolution of airlines blocked funds issues in Nigeria.
More details soon…