Nigeria, Algeria Rank in Top Five Markets With Blocked Airline Funds – IATA

The International Air Transport Association (IATA) reported total airline funds blocked are nearing $2.0 billion. African countries ranking in the top five markets (excluding Venezuela) with blocked funds are Nigeria ($551 million) and Algeria ($140 million). Airline funds are being blocked from repatriation in more than 27 countries and territories – a rise of more than 25% ($394 million) in the last six months.

“Nigeria is an example of how government-industry engagement can resolve blocked funds issues. Working with the Nigerian House of Representatives, Central Bank and the Minister of Aviation resulted in the release of $120 million for repatriation with the promise of a further release at the end of 2022 […] Solutions can be found to clear blocked funds and ensure vital connectivity.” -Kamil Al-Awadhi, Regional VP for Africa & the Middle East, IATA.