NCAA warns airlines over foreign currency ticket sales

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP July 5, 2016 10:54

NCAA warns airlines over foreign currency ticket sales

Airlines operating in Nigeria have told to halt ticket sales in foreign currencies with immediate effect. The order from the Nigerian Civil Aviation Authority (NCAA) is in response to concerns the authority had that some airlines are rejected payments in naira and are only accepting foreign currencies in payment for their tickets.

The NCAA reiterated that “pricing of any product shall continue to be in naira only and it is illegal to price or denominate the cost of any product or service (visible or invisible) in any foreign currency.”

“The NCAA is disturbed by reports that some foreign airlines are declining to accept Nigeria’s local currency – the naira — as payment for tickets.”

“In other words, some foreign airlines have blatantly resorted to selling tickets only in foreign currency,” it said.
“As a consequence of this action, the regulatory authority has written warning letters to such erring airlines to immediately comply with the provisions of BASA and CBN directive.

“Sales of tickets and services should henceforth be offered to air travellers in naira without further delay,” it said.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP July 5, 2016 10:54