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HomeNewsForeign Airlines Challenge CBN's FX Backlog Settlement Claim as IATA Validates Success

Foreign Airlines Challenge CBN’s FX Backlog Settlement Claim as IATA Validates Success

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Kingsley Nwokeoma, President, of the Association of Foreign Airlines and Representatives in Nigeria, (AFARN) told BusinessDay that as far as he is concerned, nothing has changed as regards clearing foreign airlines’ trapped funds.

Meanwhile, Bankole Bernard, chairman of the Airlines and Passengers’ Joint Committee (APJC) of the International Air Transport Association (IATA) told BusinessDay that CBN’s claim is true, adding that the airlines’ trapped funds have been cleared.

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According to him, the foreign airlines have been offered the option to get their funds from the banks using the rate of the I & E window but have refused because the current I &E window rate is not the same as they used to sell tickets.

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