Nigeria is set to release $120 million of foreign airlines’ ticket revenues, reducing the outstanding debt owed to international airlines operating in the country.
During a meeting with aviation industry representatives on October 24, 2022, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), announced that an amount of $120 million will be released on October 31, 2022, according to a Premium Times report.
The fresh amount of $120 million comes after the central bank resolved to release $265 million to foreign airlines, starting from August 27, 2022.