Trapped funds: Relevant authorities working to address issues, says Lai Mohammed

Lai Mohammed, minister of culture and information, says relevant authorities are working on solutions over the inability of foreign airlines to repatriate $464 million revenue.

Speaking at a recent event, the minister said the federal government was working on fixing the prevailing issues.

“On the trapped funds, I can tell you that the relevant authorities are working hard on that issue,” he said.

Since last week, the federal government has been under immense pressure to work out a means of repatriating foreign airlines’ funds.

The development follows Emirates’ decision to pull out of the market in protest of its $86 million, making up part of the funds.

The International Air Transportation Association (IATA) expressed disappointment over the government’s position.

Stakeholders also begged the government to do the right thing and support the sector.

The house of representatives, responding to the situation in a statement, said it would meet with all stakeholders to resolve the matter.

“The honourable speaker, house of representatives, Rt. Hon. Femi Gbajabiamila and the leadership of the house of representatives have been briefed on the disturbing notice of withdrawal of services recently issued by some international airline operators in the country,” the statement read.

“He has, therefore, requested the chairman house committee on aviation (hon. Nnoli Nnaji) and house of representatives management to immediately set a date for a meeting with all stakeholders in the aviation sector and the executive arm of government to find urgent solutions to the issues in contention.”