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Trapped funds: British Airways closes inventory in Nigeria

The British flag carrier, British Airways has given the federal government an ultimatum within when to pay its trapped funds or watch it pull out from Nigeria by December.

According to information gathered, on Friday, the British airline also closed its inventory this morning to ameliorate further accumulation of trapped funds in Nigeria and to henceforth commence issuance of tickets only in dollars.

The airline gave the directive during a business meeting held with the national executive council of the National Association of Travel Agencies (NANTA) where it declared its commitment to servicing the needs of travel agencies in Nigeria.

A statement issued by the leadership of NANTA to its members declared: “As members may be aware that British Airways closed inventory this morning, please be informed that this inventory closure is a necessary action taken by British Airways to mitigate the increase of their trapped funds.

“However, British Airways provides reassurance that it is still flying in and out of Nigeria and is currently seeking earnest solutions to address the demands of its customers.”

The travel agencies’ representatives promised to intimate its members subsequently on how existing tickets will henceforth be serviced.

Following the deadline issued by the airline, it was  gathered that passengers or their agents have been cautioned against paying or issuing tickets beyond December.

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