The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has demanded that countries adhere to the Bilateral Aviation Services Agreement (BASA).
Emefiele made the demand during a meeting with House leadership, the International Air Transportation Association, Nigerian Airlines Operators, and Aviation Minister Hadi Sirika.
The governor of the Central Bank of Nigeria bemoaned the fact that Nigerian airlines were barred from entering other countries with which Nigeria has BASA agreements.
He also claimed that since 2016, the bank has prioritised foreign airlines repatriating their funds. He emphasized that the bank prioritized the International Air Transport Association (IATA) when allocating foreign funds.
What the CBN is sayingÂ
Emiefele recalled informing airlines that due to the 2016 recession, there would be delays in the repatriation of funds while assuring them that their funds would not be lost.
He said:
- “On a particular day, I allocated 265 million dollars to foreign airlines. On that day, we allocated 322 million dollars to IATA through UBA; Qatar Airways got 22.8 million dollars through Standard Chartered Bank.”
- “Emirates Airline got 19.6 million dollars through Access Bank; British Airways got 5.5 million dollars through Guaranty Trust Bank; Virgin Atlantic Airline got 4.8 million dollars through Zenith Bank,’’ he added.
He noted that the main problem is not granting Nigerian airlines the opportunity to fly into other countries with which the government has a BASA agreement.
He stressed that disallowing Nigerian airlines the opportunity to operate foreign flights was choking the country.
- He said, “When you allow Nigerian airlines to fly into other countries, they charge in naira, and that is what we expect foreign airlines operating in Nigeria to do. But under the BASA, every penny the foreign airline sells in tickets must be converted to dollars and taken away.”
- “But if Nigerian airlines charge in naira, it does not have to convert to dollars, and so that naira sits here; that is why we are saying countries with which we have agreement must respect BASA. You cannot be landing 21 flights into Nigeria, and you do not allow any Nigerian airline to land in your country.”
- “And when the Nigerian airlines land, you intimidate them with sniffer dogs and do not allow them to carry out maintenance checks,’’ he lamented.
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has demanded that countries adhere to the Bilateral Aviation Services Agreement (BASA).
Emefiele made the demand during a meeting with House leadership, the International Air Transportation Association, Nigerian Airlines Operators, and Aviation Minister Hadi Sirika.
The governor of the Central Bank of Nigeria bemoaned the fact that Nigerian airlines were barred from entering other countries with which Nigeria has BASA agreements.
He also claimed that since 2016, the bank has prioritised foreign airlines repatriating their funds. He emphasized that the bank prioritized the International Air Transport Association (IATA) when allocating foreign funds.
