It Is CBN That Can Address Blocked Funds Challenge, Sirika Tells Airlines

It Is CBN That Can Address Blocked Funds Challenge, Sirika Tells Airlines

Honourable Minister of Aviation, Hadi Sirika says it is the Central Bank of Nigeria (CBN) that can address the lingering challenge of blocked funds facing foreign airlines operating into Nigeria.
Sirika stated this today March 14, 2023 in a meeting with the International Air Transport Association (IATA) and foreign airlines operators to discuss the salient issues affecting the organizations and the country.
He stated that the issue of blocked funds sits with the Central Bank of Nigeria and it is not what the ministry can handle alone. Else, it would have been resolved immediately. He urged the International Airline Operators to be very considerate when dealing with the issue bearing in mind the effects of Covid 19 and recession the country had experienced.
While stating Nigeria’s commitment to the Bilateral Air Service Agreement, he assured them that the aviation Ministry is concerned, and will do her very best to resolve the matter of blocked funds as soon as possible.
Speaking earlier, Dr Samson Fatokun, area Manager West and Central Africa who led the delegation expressed gratitude to the honourable Minister for his continuous support for the growth of air transport in Nigeria and for the actualization of his role as catalyst for the growth of the Nigerian economy.
He said the global airline community would like to appeal to the Honourable Minister for special intervention in resolving of airline blocked funds issues in Nigeria. He said the airlines are facing the collateral damage and the average Nigeria is bearing the brunt of this issue.
Susan Akporiaye, President National Association of Nigerian travel Agencies (NANTA) added that “Is a very difficult time for us as some of us are already giving up on the industry and going into other business. It is our loss and also the loss of the country as we don’t sell more ticket like we use to, and this will further increase the unemployment situation if this issue is not attended to.’’

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Albinus Chiedu

Albinus Chiedu is a journalist, aviation media consultant, events management professional, and author. He has practiced journalism since 2000.

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