Air Peace’s $14m trapped in CBN, 15 aircraft stranded abroad – Chairman
Chairman of Air Peace, Barr. Allen Onyema, yesterday said the airline has about $14million stranded in the Central Bank Nigeria (CBN) in addition to having about 15 aircraft stranded abroad. Onyema in his statements in an address he delivered at the Annual Conference of the Nigerian Bar Association (NBA) held in Abuja decried the ease […]
The Chairman of Air Peace, Chief Onyema Allen
Chairman of Air Peace, Barr. Allen Onyema, yesterday said the airline has about $14million stranded in the Central Bank Nigeria (CBN) in addition to having about 15 aircraft stranded abroad.
Onyema in his statements in an address he delivered at the Annual Conference of the Nigerian Bar Association (NBA) held in Abuja decried the ease of doing business in Nigeria, saying local investors face a lot of statutory bottlenecks which stifle their growth.
“How do you grow your economy when indigenous investments are overtaxed? These same investors are providing jobs for the populace. How do you grow your economy when people in government see you as an enemy, a rival, because they are blinded by whatever sentiments they believe in, thereby making business difficult.
“Air Peace has about 14 million USD stranded in the Central Bank of Nigeria. It is not hidden. We also have about 15 aircraft stranded abroad. Afterwards, people will say Nigerian airlines lack capacity. They do not lack capacity; what they lack is truthful government support and ease of doing business.
Air Peace begins direct flights to Lome, eyes Cotonou, others
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“Do you know the amount this country spends on aircraft maintenance through its airlines? Air Peace alone in 2022, expended 78 billion naira on maintenance and these funds went to foreign countries. How can local investments grow like this?”.
The Air Peace boss went on to recount how he applied to run a maintenance hangar in 2015 after paying over 100 million naira to FAAN to lease land at the Lagos Airport but added that Air Peace is yet to get the land even eight years after.