Foreign Airlines to Meet with Nigerian Government over Trapped Funds 

The Switzerland-based global airline body-International Air Transport Association warned that rapidly rising levels of blocked funds were a threat to airline connectivity in Nigeria and some affected countries. <br />IATA disclosed that the industry’s blocked funds had increased by 47 per cent to $2.27bon in April 2023 from $1.55bn in April 2022. <br />The global airline body, says the top five countries account for 68 per cent of blocked funds. These comprise Nigeria ($812.2m), Bangladesh ($214.1m), Algeria ($196.3m), Pakistan ($188.2m), and Lebanon ($141.2m). <br />IATA urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate these funds arising from the sale of tickets, cargo space, and other activities.<br /><br />This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at <a href="https://www.spreaker.com/show/4166630/advertisement">https://www.spreaker.com/show/4166630/advertisement</a>