Nigeria will allow its currency, the naira, to trade freely against the US dollar from June 20, following a move by several international airlines to stop flights into the country. In March, IATA estimated Nigeria owed foreign airlines some NGN113.3 billion ($575 million), principally because of government-imposed currency controls. IATA regional manager Samson Fatokun said Nigeria is in the top two countries with the biggest airline debts worldwide. “The inability of airlines to ...

Subscribe to Access this Entire Article

"Nigeria unlocks currency to help settle aviation fee debt " is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? Log in here.