Transfly Travel and Tour Nigeria Declares Bankruptcy, Acquired by Transferral Global Limited
Lagos, Nigeria – March 27, 2025 – In a surprising turn of events, Transfly Travel and Tour Nigeria, a well-known travel agency that has facilitated student placements and tourism worldwide, has officially declared bankruptcy due to financial instability. The company, which has successfully helped over 260 students study abroad and assisted countless clients with tourism and educational travel, cited economic challenges and unpaid customer obligations as the primary reasons for its financial collapse.
Founded with the vision of helping Nigerians and Africans access quality, affordable education in foreign countries, Transfly had built a strong reputation for guiding students through the complexities of international applications, visa processing, and travel arrangements. However, the company announced on January 15, 2025, that it could no longer sustain operations due to mounting debts and financial strain caused by clients failing to complete their application payments.
According to Transfly’s management, the company had, over the years, covered numerous costs on behalf of students and travelers, expecting payments to be made upon successful visa approvals. However, many clients either defaulted on payments, canceled applications after initial expenses had been incurred, or requested refunds that significantly impacted the company’s financial standing. The worsening economic conditions and growing operational debts ultimately pushed the company into bankruptcy.
In a move to salvage its remaining assets and ensure continuity of service, Transfly Travel and Tour Nigeria announced on March 27, 2025, that it has been officially acquired by Transferral Global Limited, a Nigeria-based socializing and networking company known for connecting businesses and personal investors.
New Leadership, New Name, and New Strategies
Following the acquisition, Transfly Travel and Tour will now operate under the name Transferral Travels. The new management has assured customers that significant changes will be made to improve service delivery, financial management, and the overall application process.
In an official statement, representatives of Transferral Global Limited emphasized that the acquisition marks a fresh start for the travel company, allowing it to restructure its operations for better resource management and efficiency.
“We understand the challenges that led to Transfly’s financial struggles, and we are committed to ensuring a more sustainable and customer-friendly approach under Transferral Travels. Moving forward, our goal is to streamline operations, enhance financial accountability, and provide more secure travel and education consulting services,” said Mr Segun MD from Transferral Global Limited.
Despite the major transition, the company assured existing and prospective clients that they would continue to receive reliable support and travel services. Customers are encouraged to remain engaged with the company as it undergoes its transformation.
The acquisition by Transferral Global Limited is expected to bring new business strategies, improved financial structures, and better travel consulting services, positioning Transferral Travels as a more resilient and customer-centric brand in the travel and study-abroad industry.
For further updates, clients are advised to stay connected with the company through their official communication channels.
