Aviation: FG and airline operators disagree on payment of $464 million in booby-trapped funds

The Central Bank of Nigeria (CBN) then announced that it had approved the disbursement of part of the trapped funds to foreign airline operators.

After the announcement, further revelations showed that some of the airlines had yet to receive these funds, a development which further caused difficulties for passengers as Nigerian travelers continued to face the difficulty of buy more expensive plane tickets compared to other countries.

According Susan Akporiayethe president of the National Association of Nigerian Travel Agencies (NANTA), the FG was not transparent with the disbursement as some foreign carriers only received part of the blocked funds.

Akporiaye added “The information that comes to us is that of the 50 p. Of the funds released, the airlines only received 25%. 100. Some didn’t even have it at all. Even those who have the 25% are even paid below their expectations”

This implies that Nigerians were forced to buy an average six-hour economy class ticket for between 1.5 and 2.2 million naira. The Business Class variant sells on average between 4 and 5 million naira – an amount that has increased by more than 200% from the rate sold in other parts of the world.

President of Air Peace, Allen Onyema also corroborated this ticket price disparity with Nigerian travelers recently during an interview with TV channels.

Onyema has accused foreign airlines of not respecting the bilateral trade agreement signed by the participating countries by refusing to grant Nigerian airlines the same landing frequency that Nigeria grants to foreign airlines.

He also mentioned that a trip from Johannesburg, South Africa to London, which is a nine hour flight, costs less than a six hour trip from Nigeria to London.

The operators have gone ahead to ask the FG to engage the foreign airlines, recognize the problems on the ground and also have plans to resolve them.

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