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Confusion as foreign airline operators can’t get forex concession from CBN

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The Association of Foreign Airlines’ Representatives in Nigeria (AFARN) yesterday disclosed that its members are yet to benefit from the concession granted to them to access foreign exchange at the inter-bank foreign exchange market.

AFARN President, Mr. Kingsley Nwokoma, said in Lagos that the present exchange rate was seriously affecting their operations.

It would be recalled that the Forex concession was granted to the airlines by the Central Bank of Nigeria following the intervention of the Minister of State for Aviation, Sen. Hadi Sirika, the foreign operators say they are yet to access any fund from the interbank rate.

Sirika had assured the airline operators that their difficulty in sourcing foreign exchange for their operations would ease as a result of the move.

Nwokoma said the dollar scarcity problem was still persisting, warning that more foreign airlines could close shop if the issue was not resolved as soon as possible.


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