Foreign airline agents in Nigeria ordered to submit remittances for 12 years by CBN

By Oyise Oghene

LAGOS-All airline authorized agents operating on behalf of foreign airlines in Nigeria has been asked to submit information on tickets sold by the airlines in the country in the last 12 years to the Central Bank of Nigeria (CBN).

Director, Trade and Exchange Department, CBN, Mr. Batari Musa in a memo to the agents titled; ‘Request for information on foreign airlines remittances for the period 1999 to 2011” noted that the information between January 1999 and December 2011 should be submitted to the department of the apex bank “both in hard and soft copies on or before 3rd May, 2012.

He however stressed that all the foreign airlines agents must comply with the directive adding that failure to comply with such directive would attract sanctions from the government.

In all, foreign airlines like BA, Emirates, Virgin Atlantic, Air France, Delta Air, Qatar Airways, South African Airways, Egypt Air, Kenya Airways and Turkish Airways repatriated over N222bn in one year while the indigenous carriers continue to carry crumbs.

A document received from one of the agencies had indicated that British Airways, which has been flying into the country for over 70 years raked in N31, 538,141,518 in the year under review.

Other airlines like Emirates earned N21.5bn on ticket sales, Virgin Atlantic, N11.8bn, Air France, N10.8bn; KLM, N10.5bn, Delta Air, N7.1bn; Qatar Airways N6.7bn; South African Airways, N5.7bn; Egypt Air N4.8; Kenya Airways N2.8bn and Turkish Airlines N1.8bn. Alitalia N931.3m; Iberia N769.1m; Saudi Arabian Airlines, which only flies into to Kano from Jeddah, grossed N846.1 and China Southern Airlines, N769.1m among others.


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