In a bid to forestall a debacle in the country’s aviation sector, the Central Bank of Nigeria (CBN) on Friday released the sum of $265 million to airlines operating in the country to offset outstanding ticket sales.
A breakdown of the figure points that the sum of $230 million was released as special FX intervention while another sum of $35 million was released through Retail SMIS auction.
The Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi confirmed the release, stating that the Governor, Godwin Emiefele and his team were particular about the development and what it implies for the sector and travelers as well as the country in the league of nations.
Mr. Nwanisobi retiterated that the Bank was not hindering any company repatriating its funds from the country, asserting that what the Bank stood for was an orderly exit for those that might be interested in doing so.
Going by this release, it is expected that operators and travelers will have some respite knowing some airlines had threatened to withdraw their services in the face of unremitted funds for outstanding sale of tickets.