A huge sigh of relief on Friday swept through yhe aviation sector bedevilled by a myriad of knotty issues as the Central Bank of Nigeria (CBN) released the sum of $265 million to airlines operating in the country.
Recall that one of the prominent airlines, Emirates Airlines, had threatened to close shop on the Nigerian route from September 1, following the non-release of its funds trapped in the apex bank.
The amount released by CBN is for the settlement of
outstanding ticket sales.
A breakdown of the figure indicates that the sum of $230 million was released as special FX intervention while another sum of $35 million was released through Retail SMIS auction.
Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi explained that the 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.
Mr. Nwanisobi retiterated 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.
