The controversy over the actual amount Nigeria owes the foreign airlines has finally been put to rest as the International Air Transport Association (IATA) has finally confirmed that Nigeria has paid 98 per cent of the trapped funds.
The Director General of IATA, Willie Walsh dropped the information during a world press conference at the ongoing 80th Annual General Meeting in Dubai, United Arab Emirates.
The IATA DG said before now eight countries are responsible for 87% of blocked funds amounting to $1.6 billion, with Nigeria topping the list of the most indebted countries.
With Nigeria out of the debtors list now, other countries still holding to the trapped funds include Pakistan, Bangladesh, Algeria, XAF Zone, Ethiopia, Lebanon, Eritrea and Zimbabwe.