IATA lauds Nigeria for clearing $831m foreign carriers’ funds 

In far away South Africa, the International Air Transport Association (IATA) lauded the Nigerian government for swiftly clearing the backlog of foreign airlines’ trapped funds that amount to over $831 million USD. 

IATA Regional Vice President for Africa and the Middle East, Mr. Kamil Al-Awadhi commended the country’s efforts during his opening address at the IATA Wings of Change Focus Africa conference 2024. 

Al-Awadhi highlighted the negative impacts of trapped funds on foreign airlines in various countries and applauded Nigeria for its effective resolution of the issue.

The decisive action by the Nigerian government he affirmed has restored confidence in the country within the global civil aviation community. 

Participants, including top government officials, airline representatives, air navigation service providers, international and regional associations, aircraft manufacturers, and other stakeholders in global civil aviation also applauded IATA’s commendation. 

Leader of the Nigerian delegation and Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, emphasized the critical role of African Foreign Affairs Ministers in the implementation of the Yamoussoukro Declaration (YD) and the Single African Air Transport Market (SAATM).