More foreign airlines threaten to close shops over exchange rate, delayed concession

The Association of Foreign Airlines’ Representatives in Nigeria (AFARN), on Wednesday warned the Federal government that more of its member airlines operating in the country could close shops if the current exchange rate which is not favourable to them persists. It also said its members had yet to benefit from the concession granted to them to access foreign exchange at the inter-bank foreign exchange market. The AFARN President, Mr Kingsley Nwokoma, told newsmen in Lagos that the present exchange rate was seriously affecting their operations.