The Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from June last year to date.
This was confirmed on Sunday by the Director-General of the International Air Transport Association (IATA), Willie Walsh
The Geneva, Switzerland-based IATA said the development had brought international airlines’ trapped funds globally to about $1.8bn.
According to IATA, only $19m foreign airlines’ funds is left outstanding from the peak of about $850m in Nigeria
The association representing international airlines said the remaining $19m was awaiting the CBN verification through commercial banks.
The IATA boss, however, commended the new Nigerian government and the Central Bank of Nigeria for their efforts to resolve the issue.