• About Us
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Editorial Charter
  • Corrections Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home Business & Finance Business

Reps orders FAAN to recover N18.98bn from foreign airlines

Quadri Olaitan by Quadri Olaitan
March 11, 2026
in Business
0 0
0
FAAN
0
SHARES

House of Representatives directs FAAN to recover N18.98bn owed by foreign airlines within two weeks, warning of stricter enforcement for unpaid liabilities

The House of Representatives Committee on Finance has directed the Federal Airports Authority of Nigeria (FAAN) to recover N18.98bn owed to the Federal Government by foreign airlines operating in Nigeria within two weeks.

Also read: FAAN issues 100,000 airport access cards amid cashless disruption

The directive was issued on Tuesday by Committee Chairman James Faleke during a session where FAAN officials, led by Managing Director Olubunmi Kuku, appeared before the panel as part of ongoing revenue monitoring exercises.

Lawmakers expressed serious concern over the growing debt profile of international carriers, describing the accumulation of such liabilities as unacceptable given the clearly defined two-week payment window for airport service charges.

Kuku presented a detailed breakdown of the outstanding debts, highlighting major airlines including Qatar Airways and Lufthansa at approximately N1.5bn each, while Virgin Atlantic owes about N1.35bn.

perfect aesthetic dental clinic perfect aesthetic dental clinic perfect aesthetic dental clinic

Other carriers such as KLM, EgyptAir, Ethiopian Airlines, Air France, Royal Air Maroc, Turkish Airlines, and Africa World Airlines have varying liabilities ranging from N700m to over N1bn.

Kuku explained that delays are often linked to the global settlement system operated by the International Air Transport Association (IATA), which consolidates payments across multiple jurisdictions.

She added that FAAN closely monitors overdue debts, with enforcement measures intensifying after 30 days and domestic airlines occasionally grounded if payments remain unsettled.

Despite the explanation, lawmakers insisted on stricter enforcement to prevent continued debt accumulation, warning that airlines failing to meet the two-week repayment directive could be summoned before the House to justify outstanding liabilities.

Faleke emphasised the importance of revenue recovery, stating: “We need every kobo that belongs to this country,” and warned that operators violating financial obligations would be held accountable.

The outstanding debts comprise passenger service charges, landing and parking fees, aeronautical service charges, and other operational levies collected by FAAN, which are essential to maintaining airport operations and supporting national revenue.

Also read: FAAN adjusts toll policy after traffic chaos

This directive is part of the National Assembly’s broader initiative to strengthen revenue collection, prevent income leakages, and ensure compliance by key operators in critical sectors of the Nigerian economy.

Quadri Olaitan
Quadri Olaitan

Quadri Olaitan is a journalist and contributor to Freelanews.com, covering news, public affairs, and human-interest stories.

Related Posts

604deffe fidelity bank
Business

‘Integrity questioned’ Two Fidelity Bank executives in insider dealings scandal

by Freelanews
September 28, 2020
Vaalco Energy Nigeria
Business

Vaalco Energy Nigeria reentry gains strong govt backing

by Quadri Olaitan
August 23, 2025
godstv 16 jpg
Business

CyberChain organises Web3 & Digital Economy Conference in Port Harcourt

by Freelanews
May 11, 2023
images58
Business

‘Keeping them happy’ 10 Nigerian banks spend N6.9Bn on welfare package for MDs, CEOs

by Freelanews
July 13, 2022
Fidelity Bank
Business

‘Elevated!’ Fidelity Bank promotes 745 staff members

by Freelanews
July 24, 2021

Leave a ReplyCancel reply

ADVERTISEMENT

Recent News

IPOB

IPOB suspends Nnamdi Kanu over unguarded utterances

June 19, 2026
VDM

VDM accuses government of forgetting Kaduna kidnap victims

June 19, 2026
EFCC

EFCC arrests Nigerian-American in $320,000 car fraud

June 19, 2026
Lagos

Lagos Police arrest 26 foreigners over fake kidnap claim

June 19, 2026
  • Trending
  • Comments
  • Latest
N250k signature

Abiodun vs Amosun: N250k signature plot deepens Ogun political crisis ahead Tinubu visit

April 3, 2026
Omoge Saida

Omoge Saida sparks Nigerian social media over leaked video

October 28, 2025
james akaie

Nollywood SFX makeup artist James Akaie allegedly dies after explosion on Abeokuta movie set

January 13, 2026
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

19
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

11
Meran Primary Health Centre Lagos father Meran hospital

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

4
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

3
IPOB

IPOB suspends Nnamdi Kanu over unguarded utterances

June 19, 2026
VDM

VDM accuses government of forgetting Kaduna kidnap victims

June 19, 2026
EFCC

EFCC arrests Nigerian-American in $320,000 car fraud

June 19, 2026
Lagos

Lagos Police arrest 26 foreigners over fake kidnap claim

June 19, 2026
June 2026
SMTWTFS
 123456
78910111213
14151617181920
21222324252627
282930 
« May    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Today’s Popular

  • Awujale

    Five princes nominated for Awujale of Ijebuland throne

    0 shares
    Share 0 Tweet 0
  • Court affirms Adenike Ajayi as sole widow in high-profile First Foundation estate battle

    0 shares
    Share 0 Tweet 0
  • Ogun Police arrest 30 suspected cultists during initiation ceremony in Isara-Remo

    0 shares
    Share 0 Tweet 0
  • Portable boldly smokes as police officers escort him

    0 shares
    Share 0 Tweet 0

Just Published!

IPOB

IPOB suspends Nnamdi Kanu over unguarded utterances

June 19, 2026
VDM

VDM accuses government of forgetting Kaduna kidnap victims

June 19, 2026
EFCC

EFCC arrests Nigerian-American in $320,000 car fraud

June 19, 2026
Lagos

Lagos Police arrest 26 foreigners over fake kidnap claim

June 19, 2026
Premier League

Premier League releases full 2026/27 fixtures – season starts August 21

June 19, 2026
No Result
View All Result
  • About Us
  • Contact
  • Advertisement
  • Editorial Charter
  • Corrections Policy
  • Sitemap

© 2025 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2025 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.