The Nigerian Senate has encouraged the Central Bank of Nigeria (CBN), to urgently release the $717.5 million airlines funds trapped in the country. The lawns also urged the CBN to allocate $25 million to airlines operating in Nigeria at its forthrightly dollar auction. The senate also called on the Federal Government to urgently reverse the current trend of increasing airlines’ blocked funds in Nigeria. He said: “In February, Nigeria alone accounted for 44 per cent of total airlines blocked funds in the entire world. “A review of airlines’ blocked funds in Nigeria in the last six months shows an average month-on-month increase of $49.3million.

Source: Ethiopian News May 18, 2023 10:03 UTC