Skip to content

Live On Air

🎧 Listen Live 🔴

  • Home
  • Classic TV
  • Shows
  • The Crew
  • News
  • Events
  • Competitions

CBN disburses $61m to foreign airlines to settle mature foreign exchange backlog

News

The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs).

According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali in Abuja on Sunday, the disbursement is in fulfilment of CBN’s commitment to eliminate the backlog of pending matured foreign exchange in DMBs.

She said that in the past three months, the CBN had also redeemed outstanding forward liabilities of close to two billion dollars.

Recall that the total trapped fund of foreign airlines in the country is pegged at about 800 million dollars, which led to the International Air Transport Association (IATA) threatening that some foreign airlines may be forced to quit the Nigerian markets if nothing is done about the monies, which are majorly from ticket revenue.

More Posts

Delta State Wins 22nd National Sports Festival

Delta State Wins 22nd National Sports Festival

Read More »
France to Ban Smoking on Beaches, Parks, and near Schools

France to Ban Smoking on Beaches, Parks, and near Schools

Read More »
Reps summon WAEC over SSCE irregularities, late sittings

Reps summon WAEC over SSCE irregularities, late sittings

Read More »
ECOWAS at 50: President Tinubu Calls for Tangible Integration

ECOWAS at 50: President Tinubu Calls for Tangible Integration

Read More »
  • 2025 Copyright © Megalectrics Limited
  • Privacy Policy
  • Terms
Facebook-f Instagram Twitter Youtube
Facebook-f Instagram Twitter Youtube
  • Copyright © 2021 Megalectrics Limited
  • Listen Live

Live On Air

  • About Us
  • Shows
  • The Crew
  • News
  • Contact Us

Classic 94.3 FM

Abuja

  • Port-Harcourt
  • Lagos
  • Privacy Policy
  • Terms
  • 2025 Copyright © Megalectrics Limited
Facebook-f Instagram Twitter Youtube
  • Listen Live

Live On Air

  • Home
  • Classic TV
  • Shows
  • The Crew
  • News
  • About Us
  • Contact Us
Facebook-f Instagram Twitter Youtube
  • Privacy Policy
  • Terms
  • Copyright © 2022 Megalectrics Limited