Trapped funds: Reps summon aviation, finance ministers, others

The leadership of the House of Representatives has invited stakeholders in aviation and finance to a meeting to address the issue of trapped funds of foreign airlines. The issue has forced the airlines to reduce flight frequencies to Nigeria and has prompted Emirates Airlines to plan suspending flights into Nigeria.

The notice of the meeting was conveyed in statement by Yahaya Danzaria, Clerk of the House of Representatives.

Specifically, those invited to the meeting were the Minister for Finance, CBN Governor, Special Adviser to the President on Ease of Doing Business, the Minister for Aviation and the DG NCAA.

Others included the Country Rep, IATA, the Emirate Country Manager, Chairman, Aviation Committee, House of Representatives, Chairman, Banking & Currency, House of Representatives and the Chairman, Finance Committee, House of Representatives.
Read also: Explainer: Airlines’ trapped funds and the effects on travel

The statement also appealed to Emirate airline to suspend the flight withdrawal pending the outcome of the meeting.

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The statement reads: ” The Honourable Speaker, House of Representatives, Rt. Hon. Femi Gbajabiamila and the Leadership of House of Representatives have been briefed on the disturbing notice of withdrawal of services recently issued by some International Airline operators in the country.

“Specifically, the Hon. Speaker has directed that the following be invited for the meeting: Minister for Finance, CBN Governor, Special Adviser to the President on Ease of Doing Business,Minister for Aviation, DG NCAA, Country Rep, IATA, Emirate Country Manager, Chairman, Aviation Committee, House of Representatives, Chairman, Banking & Currency, House of Representatives,
Chairman, Finance Committee, House of Representatives.

“The date of the meeting should be communicated to all the concerned Stakeholders and organisations.

“Meanwhile, the Speaker requests all parties in the matter, and specifically, the Emirates airlines to suspend any action and await the outcome of the meeting.

“The Speaker is also aware that the Executive Arm of Government is taking necessary steps to avert any crisis in the Aviation sector.”

Ifeoma Okeke-Korieocha

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.