Foreign airlines operating in Nigeria are expressing skepticism over the recent announcement by the Central Bank of Nigeria (CBN) regarding the settlement of all outstanding backlog of valid foreign exchange claims. According to a report by DAILY POST, the CBN stated that it had resolved the balance of $7 million in pending valid forex backlog. Additionally, in January of this year, the apex bank revealed that it had finalized the payment of all verified claims by foreign airlines, amounting to an additional $64.44 million.
However, the President of the Association of Foreign Airlines and Representatives in Nigeria (AFARN), Kingsley Nwokoma, conveyed reservations in an interview with Leadership on Thursday, asserting that approximately $700 million belonging to foreign airlines remains trapped in the country. He called upon the CBN to substantiate its claim of clearing the backlog by providing evidence of payment, particularly concerning the foreign airlines.
Nwokoma emphasized the need for transparency, stating, “If they say they cleared all forex backlog, and which include the foreign airlines’ backlog, it’s easy, it’s just for them to show everyone evidence to see that the foreign airlines backlog has been paid. However, it’s still the same amount they paid. They paid twice and we all know that the foreign airlines are complaining that they are still being owed over $700 million. If they say they have cleared it, then they should be transparent because transparency means showing how much they have paid to each sector, they should let us know.”
