$600m trapped funds: Tinubu directs CBN to meet with foreign airlines
President Bola Tinubu yesterday ordered the Central Bank of Nigeria, CBN, to set up a venue for quarterly reconciliatory talks with those airlines, to handle the backlog of international airlines’ funds.
The Minister of Aviation and Aerospace Development, Festus Keyamo, revealed this information during the current African Aviation Summit in Abuja.
He mentioned that the development was one of the reasons behind President Tinubu’s visit to the United Arab Emirates.
The Minister also presented three roadmap projects, which include Aerotropolis, Aircraft Leasing Company, ALC, and Maintenance Repair and Overhaul, MRO, facility.
Additionally, he highlighted five areas of focus for achieving Nigeria’s goal of becoming an aviation hub.
The critical areas are described as infrastructure upgrades, ALC, MRO facility, and forex availability.
