{"id":212875,"date":"2022-08-26T20:50:43","date_gmt":"2022-08-26T19:50:43","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=212875"},"modified":"2022-08-26T20:50:43","modified_gmt":"2022-08-26T19:50:43","slug":"cbn-releases-265m-to-airlines-over-repatriation-challenges","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/08\/26\/cbn-releases-265m-to-airlines-over-repatriation-challenges\/","title":{"rendered":"CBN releases $265m to airlines over repatriation challenges"},"content":{"rendered":"

The Central Bank of Nigeria has released $265m to\u00a0airlines operating in the country, to settle outstanding ticket sales to check a brewing crisis in the country\u2019s aviation sector.<\/p>\n

A breakdown of the figure indicated that $230m was released as special foreign exchange intervention while another $35m was released through Retail SMIS auction.<\/p>\n

This was contained in a statement released on Friday by the Director, Corporate Communications Department, CBN, Mr Osita Nwanisobi.<\/p>\n

According to the statement, the CBN<\/a> Governor, Godwin Emefiele, and his team were concerned about the development and what it portends for the sector and travellers as well as the country in the comity of nations.<\/p>\n

Nwanisobi reiterated that the bank was not against any company repatriating its funds from the country, adding that what the bank stood for was an orderly exit for those that might be interested in doing so.<\/p>\n

\u201cWith Friday\u2019s release, it is expected that operators<\/a> and travelers as well will heave huge sighs of relief, as some airlines had threatened to withdraw their services in the face of unremitted funds for outstanding sale of tickets,\u201d CBN said.<\/p>\n

There has been serious concerns and reactions over hundreds of millions of dollars earned by foreign airlines operating in the country which they could not repatriate due to foreign exchange scarcity problems.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria has released $265m to\u00a0airlines operating in the country, to settle outstanding ticket sales to check a brewing crisis in the country\u2019s aviation sector. A breakdown of the figure indicated that $230m was released as special foreign exchange intervention while another $35m was released through Retail SMIS auction. This was contained […]<\/p>\n","protected":false},"author":17,"featured_media":107138,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"double-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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