All flights canceled: Nigeria vs. Emirates airlines, and the Saga continues

All flights canceled: Nigeria vs. Emirates airlines, and the Saga continues

by Yeyetunde at August 19, 2022

All Emirates’ flights to Nigeria have been suspended after $85 million in revenue has been unable to be retrieved from Nigeria by the company.

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According to Reuters. The Emirates announced on Thursday that it had put a hold on flights in and out of Nigeria because of its inability to repatriate funds from the West African country.

– Last month, Emirates asked Hadi Sirika, Nigeria’s minister of aviation, to support the repatriation of its revenue, amounting to $85 million, according to The Cable.

The airline said there had been “no progress” in reaching Nigerian authorities for a solution.

Local Nigerian media is reporting that international carriers operating in Nigeria have repeatedly complained about their inability to repatriate funds to their home countries.

– According to Nigeria’s Punch Newspaper, blocked funds belonging to these airlines have risen to about $600m.

Thanks to the inability of the Central Bank of Nigeria to make the US dollar available for the carriers to repatriate. As Nigeria is facing a foreign exchange crisis due to the depreciation of the naira against the dollar.

– In the News.

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