The Nigerian Senate has appealed to international airlines not to withdraw their services while efforts are ongoing to resolve the current issues of blocked funds in the country.
Senate also urged President Muhammadu Buhari to direct the Central Bank of Nigeria to pay up the affected airlines.
These resolutions followed a motion on the current issues on Airlines Blocked Funds in Nigeria sponsored by Senator Biodun Olujimi and presented on the floor by Senator Bala Ibn-Na’Allah on Wednesday.
The lawmaker noted that for over a year, Nigeria has been the country with the highest amount of airline-blocked funds in the world.
“Moreover, as of March 2023, airlines’ blocked funds in Nigeria have increased to $717.5 million from $662m in January 2023 and $549m in December 2022.
“And a review of airlines blocked funds in Nigeria in the last six months shows an average month-on-month increase of $49.3m”.
Worried by the threat, lawmakers expressed concern that the development may cause the country more damage.
Since January 2021, Nigeria has been the most challenging country in the world for airlines to repatriate their funds to support their operations.
PIAK
