This would most likely be a temporary measure till the Forex situation improves

Information has just emerged that with effect from April 19, 2022, some foreign airlines’ electronics would start accepting issuing of tickets in United States Dollars and no more in Naira.

This new policy was caused as a result of the difficulty in repatriating airlines’ huge funds stuck in Nigeria and other countries coupled with foreign exchange.

The development was announced by APG in an advisory to its travel partners, titled: “APG IET: Restrictions of Sales in US dollars”.

APG is the world’s largest passenger and ​cargo general sales agent (GSA) and airline representation company with offices around the world, including Europe, Africa and the Middle East.

Part of the advisory said: “Dear travel partners, warm greetings from APG. This is to bring to your notice that with effect from April 19, 2022, GP would only accept issuing of tickets in US dollars and not Naira. This is mainly due to repatriation issues and Forex situation in the country.

“This would most likely be a temporary measure till the Forex situation improves. Our sincere apologies for any inconveniences this may cause you and your business. Thank you for understanding.”

“This is mainly due to repatriation issues and the forex situation in the country. This would most likely be a temporary measure till the forex situation improves.

“Our sincere apologies for any inconveniences this may cause to you and your business. Thank you for understanding.”

Airlines on the APG IET platform include South African Airways, Fly Dubai, Kenya Airways, Middle East Airlines, Royal Air Maroc, Rwandair, Thai Airways, Turkish Airlines, FrenchBee, EgyptAir, ASKY, Air Seychelles, Air Algerie and Air Namibia.

Air Panama, Air Burkina, Avianca, Bangkok Airways, Cabo Verde Airlines, Fiji Airways, Hong Kong Airlines, Malaysian Air, alongside other carriers, also use the platform.

Some of these airlines which fly directly into Nigeria are South Africa Airways, Turkish Airlines, Asky Airlines, Egypt Air, Royal Air Maroc, Middle East Airlines, Rwanda Air and Kenya Airways.

Recently, Hadi Sirika, minister of aviation, disclosed that Nigeria currently holds $283 million of foreign airlines’ funds.

The money mostly proceeds from sales of tickets, but it is trapped in Nigeria due to the forex crisis.

In line with the Bilateral Air Service Agreements (BASAs) with countries, airline tickets are mostly sold in naira, while the airlines would repatriate the funds in dollars through the country’s central bank.