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    Wednesday, June 3
    Aviation

    Nigeria to Release Foreign Airlines’ Trapped Funds

    Olu AnisereBy Updated:No Comments1 Min Read
    Nigeria to Release Foreign Airlines' Trapped Funds
    Hadi Sirika, Aviation Minister

    Nigeria to Release Foreign Airlines’ Trapped Funds

    Nigeria aims to get all the money from foreign airlines’ ticket sales out of the country and it is already paying the airlines, albeit only in trickles, Aviation Minister Hadi Sirika said on Thursday.

    A number of foreign airlines that sold tickets in the local naira currency in Nigeria have been having trouble getting their funds out of the country due to dollar shortages.

    A spokesperson for the global airlines’ industry association IATA said last week that Nigeria was withholding $743 million in revenue earned by international carriers operating in the country, the highest amount owed by any nation.

    Sirika did not provide a timeline for releasing the trapped funds. He said Qatar Airlines had $201 million blocked while another $216 million was owed to IATA airlines, the minister told reporters in Abuja. #Nigeria to Release Foreign Airlines’ Trapped Funds

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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