Trapped Funds: CBN Announces Release Of $265m To Airlines
August 27, 2022
5:04 am
The Central Bank of Nigeria (CBN) has announced the release of about sum of $265 million to airlines operating in the country to settle outstanding ticket sales in an apparent move to check a brewing crisis in the country’s aviation sector.
According to details obtained by Africa Daily News, New York, the breakdown of the figure released on Friday indicates that the sum of $230 million was given as special Forex intervention while another sum of $35 million was released through the Retail SMIS auction.
Confirming the release, the Director, Corporate Communications Department at the CBN, Mr. Osita Nwanisobi, said …
