Foreign Airlines Demand Proof Of Payment For FX Backlog From Nigerian Government

Foreign Airlines Demand Proof Of Payment For FX Backlog From Nigerian Government....KINDLY READ THE FULL STORY HERE▶

Foreign airlines have cast doubt on claims by the Central Bank of Nigeria (CBN) that it has resolved all valid foreign exchange backlogs. The President of the Association of Foreign Airlines and Representatives in Nigeria, Mr. Kingsley Nwokeoma, expressed skepticism regarding the CBN’s assertion and demanded tangible evidence of payment.

Nwokeoma emphasized the importance of transparency, stating, “If they’ve paid, they should let us know how much has been paid. Where is the evidence of payment? They should show us evidence of payments and we will thank them because payment is what we want. The backlog of trapped funds made foreign airlines stop releasing low inventory tickets.” He further highlighted that foreign airlines had been instructed to retrieve their funds from banks using the Interbank Foreign Exchange Market (I & E window) rate. However, he noted that they refused to comply due to discrepancies between the current I & E window rate and the rate used during ticket sales.

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