CBN to release $120 million to foreign airlines – Emefiele


Meanwhile, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says the bank will release $120 million to settle outstanding trapped funds of international airlines operating in the country.

Emefiele disclosed this on Monday during a meeting between the leadership of the House of Representatives, International Air Transportation Association, Airlines Operators of Nigeria and the Minister of Aviation, Hadi Sirika.

The CBN governor disclosed that the bank had in August resolved to release $265 million to the airlines; $110 million on the spot and the rest in 60 days. He added that the remaining money will be released on 31 October.

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