Nigeria clear as Algeria tops list of countries with blocked airline funds

International Air Transport Association (IATA)

…Nigeria again removed from list as $1.2bn airlines’ funds remain trapped globally

The International Air Transport Association (IATA) has reported that USD 1.2 billion in airline funds are blocked from repatriation by governments as of the end of October 2025 with Nigeria again missing on the list of culpable countries.

Ten countries across Africa, the Middle East, and South Asia account for 89 percent of the total blocked funds, amounting to USD 1.08 billion.

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Ten countries responsible for 89 percent of blocked funds include Algeria with $307 million, XAF Zone $179million, Lebanon $138 million, Mozambique &91 million, Angola $81 million, Eritrea $78 million, Zimbabwe $67 million, Ethiopia $54 million, Pakistan $54 million and Bangladesh $32 million.

A marginal improvement of USD 100 million has been made since last reported in April 2025. Out of total blocked funds reported, 93 percent are trapped in Africa and Middle East (AME).

IATA called on governments to lift all restrictions on currency repatriation and allow airlines to access their revenues in U.S. dollars from ticket sales, cargo sales and other activities, as guaranteed in bilateral air service agreements and treaty obligations.

Restrictions include burdensome or inconsistent procedures to obtain repatriation approval, delays in obtaining approval, shortage or lack of foreign exchange or other limitations imposed by governments or central banks.

“Airlines need reliable access to their revenues in U.S. dollars to keep operations running, pay their bills, and maintain vital air connectivity. Governments have committed to unfettered repatriation of funds in bilateral agreements.

“With low margins and significant dollar denominated costs, airlines depend on governments fulfilling that commitment. It is also in the interest of governments to foster the economic catalyst that airlines provide by connecting their economies globally. That’s why we urge governments to facilitate the efficient repatriation of airline funds and prioritize this in foreign exchange allocations, even when currency is in short supply,” said Willie Walsh, IATA’s Director General.

For the first time, Algeria sits at the top of the list of blocked funds countries. Significant increases have been reported due to a new approval requirement by the Ministry of Trade, adding to the already burdensome documentation requirements.

IATA urges the government of Algeria to remove unnecessary processes and requirements for airlines.

While blocked funds in XAF Zone have slightly decreased since last reported in April 2025 from USD 191 million, airlines continue to face repatriation challenges despite submission of required documentation.

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“We call on the BEAC to streamline the internal three-step validation process and improve processing times to continue clearing the backlog.

“AME region accounts for 93 percent of total blocked funds across 26 countries, at USD 1.12 billion as of end October 2025.

“Political and economic instability are key drivers of currency restrictions across Africa and the Middle East, resulting in large sums of blocked funds. We recognize that allocation of foreign exchange is a difficult policy decision, but the long-term benefits for the economy and jobs outweigh short-term financial relief,” added Walsh.

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers.

She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay.

She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos.

As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender.

She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies.

Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category.

She is the 2025 Eloy Award winner under the Print Media Journalist category.

She has undergone several journalism trainings by various prestigious organisations.

Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.

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