The International Air Transport Association (IATA), a top global trade association of airlines, has said that 98 per cent of airlines’ trapped funds in Nigeria have been cleared.
In a statement published on its website on Sunday, IATA acknowledged that significant progress has been achieved in the repatriation of trapped funds in Nigeria and from governments globally.
According to IATA’s Director General, Willie Walsh, as of June 2023, Nigeria’s blocked funds amounted to $850 million. This, he said, affected airline operations and finances in the country significantly.
