Twelve African countries have collectively blocked airlines from repatriating US$1 billion to their home countries, and Africa is responsible for 67% of airlines’ blocked funds globally. One country stands out – as of May 2022, Nigeria was hanging onto $450 million in funds belonging to foreign airlines, and one of the consequences is flights to that country cost six or seven times more than flights to comparable flights. And the amount Nigeria is holding onto is increasing weekly.
IATA wants to resolve the issue of blocked funds