The International Air Transport Association (IATA) has warned the National Association of Nigerian Travel Agencies (NANTA) to cease issuing air tickets to individuals for Basic Travel Allowance (BTA) purposes who then void the tickets after obtaining foreign exchange, a practice called Ticket renting.
In a statement signed by Head of Account Management West and Central Africa, Dr. Samson Fatokun, the global aviation association described the act as an unscrupulous and nefarious economic sabotage which constitués leakages to the Central Bank of Nigeria ( CBN) foreign exchange system asking the travel agencies’ association members to be alert to such practices.
According to the report, it was gathered that IATA wrote NANTA, airlines and other related businesses and companies which it believes carries out such acts
In part, the letter titled: Issuance of Tickets for Fraudulent Purchase of BTA read as follows:
“The Central Bank of Nigeria ( CBN) called my attention to the criminal practice of air tickets being issued to unscrupulous persons for frauds purpose of BTA and same tickets are voided the same day once the economic fraud has been committed.
“This nefarious activity amounts to economic sabotage as it constitutes a leakage in the CBN foreign exchange system.
“Issuing tickets for the sole purpose of purchasing BTA and voiding it thereafter termed “ticket renting” is fraudulent and amounts to economic sabotage.
” You are advised to alert your members about this fraudulent practice and warn that whichever agent that might be involved in this economic sabotage to desist from it.”