Iberia Airline Discontinues Flight Operations in Nigeria

iberia_airline_stops_flight_operations_in_NigeriajpgThe discountenance of the Apex bank of The Federal Republic of Nigeria (CBN) to spare foreign airlines from its Forex policy has claimed its first victim, with Iberia Airline withdrawing further operations in Nigeria.
Based on News gathered earlier in the week, Iberia, the Spanish national carrier, was forced to arrive at the decision, Owing to the financial constraint it had suffered because of the CBN Forex policy, which restrained it from repatriating its revenue made in Nigeria for several months now.
Since the initiation of the policy, the foreign airlines have over $500 million locked down in the various banks which they ought to have repatriated to their various home countries.
Prior to the resolve of Iberia, several other foreign airlines had communicated their discontentment over the CBN Forex policy, with many threatening to pull out of Nigeria if nothing was urgently done to nullify it.
Information gathered on Tuesday showed that besides Iberia, other foreign airlines had resolved to pull out of the country.
In the light of the recent happenings, the foreign airliners are scheduled to meet with Vice-President Yemi Osinbajo in Abuja.

It's only fair to share...Share on Facebook0Share on Google+0Tweet about this on TwitterShare on LinkedIn0Pin on Pinterest0Email this to someonePrint this page

One Response

Leave a Reply

Your email address will not be published. Required fields are marked *