Foreign airlines’ inability to repatriate their revenues in Nigeria has led to loss of jobs as travel agents are closing their businesses in the wake of trapped funds.
Ripples Nigeria had reported that the International Air Transport Association (IATA) listed Nigeria among top five countries preventing foreign airlines from repatriating their revenue.
Three weeks ago, the IATA said Nigeria topped the aviation trapped funds list with $551 million, Pakistan followed with $225 million, Bangladesh has $208 million, Lebanon holds $144 million, and Algeria has $140 million.
