The Director, Corporate Communications Department at the Central Bank of Nigeria, CBN, expressed concern about the brewing crisis as result of the trapped funds in the aviation sector, by giving out a financial intervention.
Our correspondent learnt that the CBN has released the sum of $265 million to airlines operating in Nigeria to settle outstanding ticket sales in a noticeable action to check a brewing crisis in the country’s aviation sector.
Nwanisobi, who confirmed this, said the CBN Governor, Godwin Emefiele, and his team were concerned about the development, saying it portends for the sector and travellers as well as the country in the comity of nations.
A breakdown of the figure released on Friday, according to the Channels, indicated that the sum of $230 million was given as a special Forex intervention while another sum of $35 million was released through the Retail SMIS auction.
Nwanisobi restated that the Bank was not against any company repatriating its funds from the country, adding that what the Bank stood for was an orderly exit for those that might be interested in doing so.
With Friday’s release, it is expected that operators and travellers as well would heave huge sighs of relief, as some airlines had threatened to withdraw their services in the face of unremitted funds for the outstanding sale of tickets. -Channels.
