Thursday 8 November 2012

Travelex to Invest Nigeria's Aviation Sector

Sky Watch Nigeria

The quest to attract foreign investors to the Aviation sector in Nigeria received a boost yesterday as Travelex, the world leader and largest provider of airport and passenger terminal Bureau De Change Services indicated its interest to set up offices and install its equipment at major airports around the country.

Chairman (Non-Executive) and Founder of Travelex, Lloyd Dorfman who disclosed this during a Courtesy Visit on the Aviation Minister, Princess Stella Adaeze Oduah in her office Wednesday in Abuja said the company is interested in expanding its business reach to Nigeria by providing air travellers and airport users seamless retail foreign exchange services comparable to what obtains in other internal and domestic airports around the world.

He stated that with its leading edge technology in the provision of Foreign Exchange ATM machines, Travelex's entry into the nation's aviation sector would help to boost the cash-lite policy of the federal government while also providing air travelers the convenience of the its services at the airports.

Dorfman said Travelex's global expertise and experience as the world's largest retailer of foreign exchange will be brought to bear in the provision of its services in Nigeria, and expressed optimism that the envisaged partnership with the Aviation Ministry would go a long way in enhancing the transformation agenda in the sector.

In her remarks, Aviation Minister, Oduah said as a champion of Foreign Direct Investment in the sector in Nigeria, she was very excited about the prospects of partnering with Travelex to enhance the travel experience, convenience and comfort of air travelers in Nigeria. 

"We are looking for foreign investors so we are extremely excited about this opportunity to work with you. Currently, we are embarking on a very ambitious expansion programme of our airports which began with the rehabilitation, reconstruction and re-modelling of the old terminals. In the first quarter of next year, work on five brand new international terminals is expected to commence. Travelex's entry into the sector could therefore not have come at a better time", the Minister told the delegation. 

With the entry of Travelex, the Minister said the challenges faced by air travellers and airport users in accessing foreign exchange in a safe, secure and dignified environment would be a thing of the past.

Travelex is the world's number one brand for retail foreign exchange. The company currently provides this service in over 50 countries and trades in more than 80 foreign currencies. It is reported to be helping more than 37 million customers to send and spend money around the world.

Joe Obi, SA (Media) to Hon. Minister of Aviation


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