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Nigeria Clears 98% of Airlines’ Trapped Funds, Owes $19m

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foreign airlines

By Adedapo Adesanya

The International Air Transport Association (IATA) has confirmed that about 98 per cent of airlines’ trapped funds in Nigeria have been successfully repatriated by the international airlines after years of struggle.

The Director-General of IATA, Mr Willie Walsh, announced this in a statement on Sunday and praised the government for its efforts in ensuring the repatriation.

Mr Walsh noted that as of June 2023, Nigeria had blocked funds totalling $850 million, which had a considerable impact on the operations and financial health of airlines operating there.

He explained that 98 per cent of the $850 million had been paid while the sum of $19 million, representing about 2 per cent of the funds, is still outstanding.

“At its peak in June 2023, Nigeria’s blocked funds amounted to $850 million, significantly affecting airline operations and finances in the country.

“Carriers faced difficulties in repatriating revenues in U.S. dollars, and the high volume of blocked funds led some airlines to reduce their operations and one carrier to temporarily cease operations to Nigeria, which severely impacted the country’s aviation industry.

“However, as of April 2024, 98% of these funds have been cleared. The remaining $19 million is due to the Central Bank of Nigeria’s ongoing verification of outstanding forward claims filed by the commercial banks.

“We commend the new Nigerian government and the CBN for their efforts to resolve this issue.

“Individual Nigerians and the economy will all benefit from reliable air connectivity for which access to revenues is critical,” Mr Walsh said in the statement seen by Business Post.

The development comes on the back of the CBN’s effort to clear a $7 billion FX backlog and stabilize the exchange rate.

In January 2024, the CBN disbursed $61.64 million to foreign airlines through various deposit money banks. In the same month, the apex bank released $500 million to various sectors to address the backlog of verified foreign exchange transactions.

In February 2024, the Governor of the Central Bank of Nigeria, Mr Yemi Cardoso announced that the FX backlog had dropped to $2.2 billion.

Then, in March, he announced that all valid FX backlogs had been settled by the country.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Travel/Tourism

NCAA Approves VivaJets Air Operating Certificate

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VivaJets

By Adedapo Adesanya

Nigerian business aviation firm, VivaJets, has received its Air Operating Certificate (AOC) from the Nigerian Civil Aviation Authority (NCAA).

This comes amidst a rapid global expansion in the last two years and advocacy for the reduction of continental barriers to air travel.

According to the chief executive of the firm, Mr Erika Achum, having an African AOC gives the firm commercial rights into the 34 countries which have ratified the Yamoussoukro decision, a precursor to the Single African Air Transport Market, (SAATM).

“Our story illustrates the transformative power of business aviation in improving connectivity and innovation across Africa. We believe that Africa’s prosperity lies in connectivity within and with the continent,” he said.

Since inception two years ago, VivaJets has participated in several international events, where the firm has advocated for free aviation across Africa.

At the 2025 Africa CEO Forum (ACF) in Abidjan, Cote D’Ivoire, Mr Achum issued a clarion call for the urgent dismantling of long-standing barriers to air travel within the continent, emphasizing that aviation is a key driver of economic integration and growth on the continent.

“Our skies are still segmented by outdated agreements and policies,” Mr Achum said, adding that, “What Africa needs is a unified, modern aviation strategy that prioritizes accessibility, innovation, and collaboration.”

He added that the company believes that Africa’s prosperity lies in connectivity within and with the continent.

“We are a continent of over 1.4 billion people, with growing cities, industries, and innovation hubs. If we get aviation right, we unlock a future where Africans can move, trade, and connect freely; and that future is within reach,” he added.

VivaJets has had a remarkable growth over the last two years, with an expanded fleet, global routes, and a rapidly growing team, whilst showcasing a unique cabin crew outfit created by iconic fashion designer, Loza Maleombho at the Lagos Fashion Week last November 2024. In April 2025, the firm unveiled Above, a travel magazine.

According to Chief Operating Officer, Mrs Tejumade Salami, the company’s journey has been built on the shoulders of an extraordinary team.

“We have been blessed by the most dedicated and creative team, and as we look to the future, we are committed to scaling even greater heights — delivering excellence, fostering innovation, and shaping the future of private aviation in Africa,” she said.

“Finally, with the award of its AOC and the unveiling of ABOVE magazine, Falcon Aerospace continues to prove its position as a forward-thinking leader in Africa’s private aviation sector, bringing in new levels of connectivity, innovation, and cultural pride,” she added.

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Travel/Tourism

Cargoplug Expands Logistics Operations to UK Market

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Ujama Kikelomo Cargoplug

By Adedapo Adesanya

Nigerian cross-border logistics company, Cargoplug, is making inroads into the United Kingdom market with the launch of its first self-managed hub, which will allow the firm to manage operations directly, reducing delivery timelines whilst offering more affordable shipping rates.

According to a statement, the move comes in response to growing and evolving customer demands and the corresponding need to bolster its service offerings across the UK-Nigeria trade route.

As trade volumes and diaspora connections between Nigeria and the UK continue to surge, Cargoplug wants to capitalise on the opportunity while also tapping into initiatives like the Enhanced Trade and Investment Partnership (ETIP), which is projected to further boost trade between the two nations.

With this expansion, Cargoplug, which is backed by Techstars D.C. Accelerator Program, supported by JP Morgan, strengthens its position as a key player in transatlantic logistics, delivering faster shipping, competitive rates, and smooth import-export services between Europe and both nations by air and sea.

Founded in Nigeria in 2013 by Mrs Kikelomo Fola-Ogunniya and Mrs Ujama Akpata, Cargoplug (formerly Jand2Gidi) started with a mission to solve the everyday challenges people face when sending and receiving goods between the UK and Nigeria.

The duo created a solution that fixed the pain points experienced by individuals and businesses, ensuring a faster, transparent, more affordable, and reliable service banking on its proprietary technology to also serve B2B and B2B2C markets.

In addition, Cargoplug offers seamless API integrations with clients, including e-commerce platforms, logistics providers and global lifestyle brands. This enables clients to improve service delivery and revenue flows by offering the same value-added logistics services to their customers, spanning efficient cross-border and nationwide deliveries and covering everything from overseas pickup and customs clearing to insurance and last-mile delivery.

Also, the company has already fulfilled over 1 million packages in the past 12 years and is now one of the fastest-growing logistics partners for high-growth businesses in fashion, manufacturing, construction, procurement and oil services.

Mrs Fola-Ogunniya, co-founder at Cargoplug commented, “After over a decade of exponential growth through valued partnerships, we’re thrilled to launch our first self-run UK hub. This sees us doubling down on our commitment to being the go-to logistics firm for the movement of goods between the UK and Nigeria. This is a mission that originated after our firsthand experience of the challenges of costly, delayed, and opaque shipping fees, tariffs and processes after returning to Nigeria from studying in the UK. Establishing our on-the-ground presence here was the natural next step in our growth as a company, even as we now set sights on some of our other high traffic markets such as the US, Turkey and China”

“With our new UK hub, customers can now either drop off their goods, send them to us directly, or have us pick up from anywhere in the UK,” added Mrs Akpata, co-founder of Cargoplug. “We are now able to streamline operations and cut our prices, all while maintaining our reliable weekly Thursday dispatch and 7 to 10 working day delivery window. We look forward to better serving our growing customer base and delivering the trusted, seamless logistics experience Cargoplug is known for.”

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NIPOST, KLM Royal Dutch Airlines Seal Logistics Deal

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NIPOST

By Adedapo Adesanya

The Nigerian Postal Service (NIPOST) and the KLM Royal Dutch Airlines have signed a direct international mail partnership to boost delivery and ease bottlenecks around Nigerian logistics.

The Postmaster General of NIPOST, Mrs Tola Odeyemi, confirmed this agreement between both parties, describing its as a milestone in many years.

According to Mrs Odeyemi, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers, resulting in delays, higher costs, and uncertainty around the delivery of packages.

“With this new partnership, KLM will now handle our outbound international mail directly, with no middlemen involved,” she wrote in the announcement on X, formerly, known as Twitter, noting that the deal will bring faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network.

KLM Royal Dutch Airlines is the national carrier of the Netherlands and offers services – passenger and cargoes – to 164 destinations worldwide and boasts about 116 aircrafts as of 2025.

“This breakthrough is possible because we have begun clearing longstanding debts owed to international carriers. We are actively working to rebuild global trust, and this partnership is only the first of many doors that will reopen,” she added.

She also noted that NIPOST is currently in strategic discussions with Ethiopian Airlines to serve African and Eastern routes, further strengthening the country’s regional and continental logistics framework.

“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” she noted.

The NIPOST chief also noted that the development serves as a major win for Nigerian businesses especially Small and Medium Enterprises (SMEs).

According to her, some of the benefits cover those who export goods, or sell products online, as it introduces quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.

“I remain grateful to the incredible teams working diligently behind the scenes, and to every Nigerian who continues to believe in our mission. We are not just delivering mail, we are delivering solutions and moving Nigeria forward,” she added.

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