NANTA president warns of cross-border ticket trade perils
The President of the National Association of Nigeria Travel Agents (NANTA), Mr. Yinka Folami, has raised alarm over the increasing risks associated with cross-border ticket trading among travel agents. Folami, in a recent address, stated that the practice is leading to significant financial losses for both travel agencies and customers.
According to him, issues such as ticket restrictions, delayed communication, and high no-show rates have exacerbated the problem. He also criticized the role of IATA in applying exchange rates and accused global merchants of undermining the Nigerian market.
These factors, combined with the non-refundable nature of cross-border tickets, have created a volatile environment for the travel industry. The NANTA president emphasized that cross-border ticket trading contributes to capital flight, poor customer service, and the devaluation of local assets.
He called on travel agents to desist from the practice, warning of potential legal repercussions. While assuring stakeholders of the association’s commitment to stabilizing the market, Folami urged members to prioritize fair play and protect the local industry, stressing the importance of maintaining market boundaries to prevent the emergence of harmful monopolies.
He announced that, NANTA is currently engaging with airlines, government agencies, and other stakeholders to address the challenges facing the travel industry.
