• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, September 11, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Trapped Funds: CBN Releases $265m To Foreign Airlines

by Mark Itsibor
3 years ago
in Business, News
Reading Time: 1 min read
CBN
Share on WhatsAppShare on FacebookShare on XTelegram

In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN) on Friday, released the sum of $265million to foreign airlines operating in the country, to settle outstanding ticket sales.

 

Advertisement

A breakdown of the figure indicates that the sum of $230 million was released as special FX intervention while another sum of $35 million was released through retail SMIS auction.

 

The apex bank’s director, corporate communications department, Mr Osita Nwanisobi, confirmed the release of the funds in a statement on Friday.

 

Nwanisobi said CBN Governor, Godwin Emefiele, and his team were concerned about the development and what it portends for the sector and travelers as well as the country among the comity of nations.

 

Mr. Nwanisobi reinterated that the bank was not against any company repatriating its funds from the country, adding that what the Bank stands for was an orderly exit for those that might be interested in doing so.

RELATED

Federal Gov’t Launches Initiative To Promote Wildlife At Airports 

Strike: Minister Begs Resident Doctors, Says Allowances Coming

18 minutes ago
Kebbi Governor Urges Faith In Present Administration

After Viral Video Of Dilapidated Hospital, Kebbi Governor Suspends Health Commissioner

23 minutes ago

 

With Friday’s release of the trapped funds, it is expected that operators and travelers as well will heave huge sigh of relief, as some airlines had threatened to withdraw their services in the face of unremitted funds for outstanding sale of tickets.

Join Our WhatsApp Channel

SendShare10259Tweet6412Share
ADVERTISEMENT
Previous Post

London Meetings: We’re Consulting For Better Nigeria, Says Wike On Return From UK

Next Post

First Set Of TETFund-Morgan Postdoctoral Fellows Complete US Training

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Federal Gov’t Launches Initiative To Promote Wildlife At Airports 
News

Strike: Minister Begs Resident Doctors, Says Allowances Coming

2025/09/11
Kebbi Governor Urges Faith In Present Administration
News

After Viral Video Of Dilapidated Hospital, Kebbi Governor Suspends Health Commissioner

2025/09/11
Malami Debunks Allegations, Reveals Details Behind Social Critic’s Arrest
News

JUST-IN: Ex-AGF Malami Accuses Kebbi Governor Of Alleged Plans To Import Thugs, Foreign Mercenaries

2025/09/11
Kachikwu Dispels Concerns Over Local Refinery Crude Supply, Emphasizes Global Practices
News

Kachikwu Says David Mark On Borrowed Time In ADC, Berates INEC Chairman

2025/09/11
PICTORIAL: Qatar Emir Leads Funeral Prayer For 6 Victims Of Israeli Strikes On Doha
News

PICTORIAL: Qatar Emir Leads Funeral Prayer For 6 Victims Of Israeli Strikes On Doha

2025/09/11
At Special Prayer, Ilorin Emir, Islamic Scholars Hail AbdulRazaq’s Strides At Making Kwara Safe
News

At Special Prayer, Ilorin Emir, Islamic Scholars Hail AbdulRazaq’s Strides At Making Kwara Safe

2025/09/11
Leadership Conference advertisement

LATEST

Strike: Minister Begs Resident Doctors, Says Allowances Coming

Dissolve NFF If Nigeria Misses 2026 World Cup — Mikel Obi

After Viral Video Of Dilapidated Hospital, Kebbi Governor Suspends Health Commissioner

‘You Can’t Ruin PDP, LP And Run To ADC’, Kachikwu Tells Mark, El-Rufai, Others

PICTORIAL: Jonathan, Peter Obi Hold Closed-door Meeting In Abuja

JUST-IN: Ex-AGF Malami Accuses Kebbi Governor Of Alleged Plans To Import Thugs, Foreign Mercenaries

Kachikwu Says David Mark On Borrowed Time In ADC, Berates INEC Chairman

Supreme Court Convicts Ex-Brazil’s President Bolsonaro For Coup Plot

FBI Releases Photos Of Suspect In Charlie Kirk Assassination, Offers $100,000 Bounty

Super Eagles Goalkeeper Olorunleke Ojo Breaks Silence Over Enstranged Wife’s Allegations

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.