*Airfares to Nigeria Three-times Higher than What Obtains in Other Countries The International Air Transport Association (IATA) has disclosed that airlines unremitted revenues from Nigeria (known as blocked funds) has risen to $450 million, representing 25 per cent of the total amount of international carriers’ funds held back by central banks of many countries, put […]

The International Air Transport Association (IATA) has warned that flights to Nigeria may be hampered because of the $208 million blocked funds of foreign airlines that operate to the country.  These funds are ticket sales revenues, which Nigeria is unable to remit to these airlines due to paucity of foreign exchange.  This was disclosed by […]