The National Association of Nigeria Travel Agents (NANTA) has warned of the dangers of cross-border ticket trading, citing significant financial losses and market instability.
The President of NANTA, Mr. Yinka Folami, has raised concerns over the increasing risks associated with cross-border ticket trading among travel agents. “The practice is leading to significant financial losses for both travel agencies and customers,” Folami stated.
The issues surrounding cross-border ticket trading include ticket restrictions, delayed communication, and high no-show rates. Folami criticized the role of IATA in applying exchange rates, accusing 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 cross-border ticket trading contributes to capital flight, poor customer service, and the devaluation of local assets,” Folami emphasized.
He urged travel agents to desist from the practice, warning of potential legal repercussions. Folami assured stakeholders of NANTA’s commitment to stabilizing the market, urging members to prioritize fair play and protect the local industry. “We must maintain market boundaries to prevent the emergence of harmful monopolies,” he stressed.
NANTA is currently engaging with airlines, government agencies, and other stakeholders to address the challenges facing the travel industry. Folami’s warning serves as a call to action for the industry to rethink its practices and prioritize sustainability and fair play.
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As the travel industry teeters on the brink of chaos, one thing is clear: the days of cross-border ticket trading are numbered. Buckle up, agents, because the future of travel is about to take off – and it’s going to be a bumpy ride!
