Foreign Airlines Fear $200m Loss Over Naira Depreciation
The International Air Transport Association, the Geneva-based trade association representing world airlines, has expressed fears that foreign airlines operating in Nigeria, may lose about $200m to exchange rate depreciation. IATA Regional Vice-President for Africa and the Middle East, Kamil Al Awadhi, said the issue of trapped funds was being exacerbated by the depreciation of the naira, which had dropped significantly against the dollar. He spoke in an interview with CNBC […]