in Business & Finance

Nigeria to release $300mn to foreign carriers

Posted 8 November 2016 · Add Comment

The Nigerian government said it has directed the Central Bank of Nigeria (CBN) to release a total of USD300 million in unremitted revenue to foreign airlines, reports ch-aviation.

The announcement comes after IATA lumped the West African petrostate into the same category as Venezuela in June this year after complaints from foreign carriers that they were owed seven months worth of revenue (USD591 million) by the CBN.

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