February 29, 2024
5000 Travel Agencies Threatened Over $812m Airlines’ Funds’
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5000 Travel Agencies Threatened Over $812m Airlines’ Funds’

There was more worry yesterday over the foreign airlines’ trapped funds, now estimated at $812m, with a stakeholder in the downstream sector of the aviation sector saying over 5000 travel agencies may be deeply affected.

Group Managing Director, Dees Travels and Tours Limited, Mr. Daisi Olotu, said the recent $61m released by the Central Bank of Nigeria (CBN) falls short of what is being owed.

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Daily Trust reports that pressure has continued to mount over the unresolved issue of airlines’ trapped funds.

The foreign airlines are already threatening to exit Nigeria or downscale their operations as the trapped funds increase on a daily basis.

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