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IATA Appeals To FG On Airlines’ Blocked Funds

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The International Air Transport Association (IATA) has appealed to the Federal Government of Nigeria on resolution of airlines’ blocked funds.
IATA’s Area Manager, West and Central Africa, Dr Samson Fatokun, made the appeal in Abuja, when he led a team to pay a courtesy visit on the Minister of Aviation, Sen. Hadi Sirika.
According to him, Nigeria has been the country with the highest amount of airline blocked funds in the world for over a year.
“We would like to thank you for your continuous support for the growth of air transport in Nigeria and for the actualisation of its role as catalyst for the growth of the Nigerian economy.
“IATA and global airline community will like to appeal for your special intervention for the resolution of airlines` blocked funds issue in Nigeria.
“As at January 2023, airlines `blocked funds in Nigeria have increased to $743, 721,097 from $662m in January 2023 and $549m in December 2022”, he said.
Fatokun said increasing backlog of international airlines blocked funds in Nigeria had sent a message against Foreign Direct Investment (FDI) in Nigeria.
According to him, potential investors are reading from the plight of airlines that they may not be able to repatriate their funds from Nigeria, at a time when Nigeria is expecting more investments.
“Foreign airlines fly into Nigeria within the legal framework of the Bilateral Air Service Agreement (BASA), signed between their countries and the Federal Republic of Nigeria.
“It is agreed in those BASAs that Nigeria will facilitate the repatriation of the funds of the other party`s airline. Nigeria flouts this contractual obligation by not facilitating enough the repatriation of airlines’ funds”, he said.
He said some airlines had decided to reduce number of their frequencies or seats made available for sale in the Nigerian market to mitigate increasing backlog of their funds in Nigeria and its impact on their cash flow.
He stated that this reduced person and cargo access to Nigeria, and e-commerce that relied on aviation for speedy delivery would be impacted in the country.
“Moreover, going by the law of demand and supply, the reduction of airline inventories in the Nigerian market will lead to ticket fare increase which would further burden average Nigerians and take air travel away from the reach of many Nigerians”, he stated.
On her part, the National President, National Association of Nigeria Travel Agencies (NANTA), Mrs Susan Akporiaye, also urged the minister to help facilitate resolution of airlines’ blocked funds.
“The downstream sector of aviation industry (Travel Agencies, Ground Handling Companies) rely heavily on airlines capacity to grow or remain in business.
“Should the airlines be compelled to further reduce their capacity, those businesses would be negatively impacted, leading to job loss.
“The negative indirect impact will also affect ground transportation (taxi, car hire), hotels and restaurants output”, she said.
Responding, the Minister of Aviation, Sen. Hadi Sirika, said he would use his office and personal relationship with President Muhammadu Buhari to ensure that airlines’ funds blocked in Nigeria were totally cleared.

He said efforts would be made to ensure clearance of the funds before the end of the current administration.

Sirika, however, frowned at reactions of some international airlines, regarding the blocked funds.

“We do know that we need your services as you also need our market. Things can be resolved by dialogues like this, which I think is better. “he said.

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Yahaya Bello: Senator Hails EFCC’s Probe Of N80.2bn Fraud

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Senator representing Kogi Central Senatorial District in the National Assembly, Natasha Akpoti-Uduaghan, has commended the efforts by the Economic and Financial Crimes Commission, (EFCC) to apprehend and prosecute the immediate past governors of Kogi State, Alhaji Yahaya Bello, over an alleged N80.2 billion fraud.
This is just as she also hailed the EFCC chairman, Ola Olukoyede, for ceding 14 properties that were initially forfeited to the federal government to the government and people of Enugu State.
Reacting to Bello’s excuse for not honouring the EFCC’s invitation, the lawmaker emphasized the need for the commission to investigate other corrupt public officials to avoid the impression that their actions against former governor were meant to witch hunt him.
In a now-viral video, the EFCC chairman had claimed Belloh told him that a female senator (name withheld) allegedly gathered journalists to humiliate him anytime he was at the agency’s Abuja office for interrogation.
“I called Yahaya Bello, as a serving governor, to come to my office to clear himself. I shouldn’t have done that. But he said because a certain senator had planted over 100 journalists in my office, he would not come.
“I told him that he would be allowed to use my private gate to give him a cover, but he said my men should come to his village to interrogate him,” Olukoyede was quoted as saying.
But Senator Natasha in a statement signed by her Chief Press Secretary, Arogbonlo Israel and issued at the weekend in Abuja, reminded Yahaya Bello of the importance of respecting Nigeria’s laws and constitution, given his former position as the chief security officer of Kogi.
“I was surprised to hear that Yahaya Bello evaded the invitation from the EFCC, despite having served as Kogi’s former chief security officer. As a former governor, he should understand the importance of respecting Nigeria’s laws and constitution.
“It’s a well-known fact that ‘he who comes into equity must come with clean hands’. As such, I advise him to honour the invitation and clear his name while he still has the chance.
“I’d also like to take this moment to appreciate the diligence of the EFCC in handling the case so far. No Nigerian is above the law, and therefore the agency must see this case through to the end if they are to gain the trust of both Nigerians and the international community in the fight against corruption,” she said.

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Senate  Frowns Over Continued Depreciation Of Naira

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Worried over the  latest depreciation of the Naira against major foreign currencies, the Senate through its Committee on Finance, has  stated that the Legislature  is  exploring a range of policy options to mitigate the impact of Naira depreciation and foster economic stability in the country.
These, according to the committee, in a statement signed by its chairman, Senator Sani Musa (APC Niger East) and released yesterday, includes robust oversight of fiscal policies, engagement with key stakeholders, and the formulation of targeted interventions to support key sectors of the economy.
Senator Musa said the statement became necessary “to address the current state of the economy and the need for concerted efforts at tackling the instability and continuous depreciation of the Naira.”
This is even as he hoped that the “economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity”, pledging the support of the National Assembly to the executive arm of government to achieve the set goals.
He, however, urged Nigerians to remain vigilant and resilient as they navigate these uncertain times, saying “together, we can overcome the challenges facing our economy and chart a path towards prosperity for all.”
The statement titled: “State of the Nation Economy and Naira Depreciation’, reads “The Nigerian economy is facing significant challenges, exacerbated by both internal and external factors.

“Despite efforts to stabilize and bolster economic growth, the numerous initiatives and bold but necessary steps and policy decisions taken by President Bola Tinubu, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern.

“The recent depreciation of the Naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.

“The Senate Committee on Finance is closely monitoring the situation and is committed to working collaboratively with relevant stakeholders to implement effective policies and strategies.

“It is imperative that we address the root causes of Naira depreciation, including but not limited to fluctuations in global oil prices, fiscal deficits, and structural imbalances in the economy.”

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WIW: Banigo Advocates Legislative Impetus

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The Senator, representing Rivers West Senatorial District at National Assembly Sen.Dr. Ipalibo Harry Banigo has advocated for legislative backings to enforce immunisation as a pre-condition for admission into nursing, primary and secondary schools in Nigeria.
Banigo made the assertion recently in a statement to commemorate this year’s week-long immunisation campaign in line with the World Health Organisation advocacy.
Banigo, a Harvard-trained Public Health personnel, explained that such legislation would strengthen the National Immunisation Policy in the administration of vaccines, saves lives, helps in the child normal growth, prevents serious illness and disabilities such as poliomyelitis .
The former Deputy Governor of Rivers State who is also the Chairman, Senate Committee on Health (Secondary and Tertiary), noted that Nigeria must attain at least, 90 percent vaccine coverage for all childhood and adolescence; stressing that a fully vaccinated child should have received BCG, Mussels and three doses of DTP and Polio .
She emphasised the need for collective efforts by stakeholders in the campaign against preventable diseases .
The theme for this year’s World Immunisation Week is “Humanly Possible: Saving Lives Through Immunisation” while the national theme is “Vaccine Works For All”.

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