In an effort to stop a crisis from developing in the nation’s aviation industry, the Central Bank of Nigeria (CBN) on Friday issued $265 million to domestic airlines to cover unpaid ticket sales.
According to a breakdown of the amount, $35 million was made available through a retail SMIS auction, and $230 million was issued as a special FX intervention.
The CBN’s Director of Corporate Communications, Mr. Osita Nwanisobi, confirmed the news in a statement and stated that “the Governor, Godwin Emefiele and his staff were worried about the development and what it portends for the sector and passengers as well as the country in the comity of nations.”
