x

CBN Releases $265m To Airlines

The Central Bank of Nigeria (CBN) has released the sum of $265 million to airlines operating in the country to settle outstanding ticket sales in an apparent move to check a brewing crisis in the country’s aviation sector.

A breakdown of the figure released on Friday indicates that the sum of $230 million was given as special Forex intervention while another sum of $35 million was released through the Retail SMIS auction.

Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi, said the CBN Governor, Godwin Emefiele, and his team were concerned about the development and what it portends for the sector and travelers as well as the country in the comity of nations.

Nwanisobi reiterated 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 will 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.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Don’t test my resolve- Gov Eno warns A’Ibom youth leaders

By Ogenyi Ogenyi, Uyo Governor Umo Eno has warned those...

Alia Hits The Over Drive, Hires Labaran Maku-2027 Coalition Leader As Media Consultant

By Joe Ngbede Benue State Governor Hyacinth Alia has once...

Defamation Case: Suspended Senator Natasha Akpoti-Uduaghan to Appear in Court Tuesday

Suspended Senator representing Kogi Central, Natasha Akpoti-Uduaghan, is expected...

Nigerian Stock Market Gains N3.9 Trillion in May Despite Global Uncertainty

Investors in the Nigerian stock market recorded a remarkable...

Mokwa Flood: Death Toll Rises to 153 – NSEMA Confirms

The Niger State Emergency Management Agency (NSEMA) has confirmed...

Dhul Hijja: FCT Pilgrims Admonished To Deepen Worship During Sacred Days

By Joyce Remi-Babayeju Pilgrims from the Federal Capital Territory (FCT)...

Education Secretariat Absorbs FCT Schools From Religious Indoctrination

By Joyce Remi-Babayeju The Federal Capital Territory, Education Secretariat of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img