"They Stole Our $2 Million": Air Peace CEO Recounts How Tunisian Firm Duped Airline

Air Peace CEO Allen Onyema recounted how a Tunisian firm duped the airline of $2 million, leading to the loss of an Embraer E175 aircraft worth $100 million. Onyema spoke at the League of Airport and Aviation Correspondents' 29th annual conference, expressing the airline's decision to take legal action to protect Nigeria's image in the global aviation sector.

The foreign leasing company disappeared after receiving payment for the aircraft part. Onyema highlighted the challenges of securing funding in Nigeria, citing high interest rates and stringent collateral demands.

He called on the government to create a foreign exchange window for airlines and commended the administration for stabilizing the exchange rate. Onyema also mentioned the airline's plans to become a publicly listed company to strengthen its operational base and ensure stability.