Finchglow's Bankole Warns Airlines on Ticket Charge Compliance

Bernard Bankole, the Group Managing Director of Finchglow Holdings Ltd, expressed concerns regarding airlines that do not remit the five percent Ticket Sales Charge (TSC) to the Nigeria Civil Aviation Authority. Speaking in Lagos, he highlighted that such actions could jeopardize investor confidence and raise questions about the airlines' commitment to safety and financial responsibility.

The TSC is a legal requirement for airlines to collect from passengers and remit to the authority, which distributes the funds among aviation agencies. Airlines have argued that the charge adds to their financial burdens amid rising operational costs.

However, Bankole insisted that the TSC is not the airlines' money but funds collected on behalf of government agencies, and failure to remit it could lead to integrity issues. He acknowledged the operational difficulties airlines face but maintained that these challenges should not excuse non-compliance with statutory obligations.

Bankole also pointed out that international airlines pay the same TSC, questioning why domestic airlines resist remitting it.