Emirates Airlines Suspends Flights to Nigeria Over Unpaid Funds.

todayNovember 4, 2022 8

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Emirates Airlines has suspended flight operations to Nigeria over its inability to repatriate blocked funds and it has communicated its position to the Federal Government and the Central Bank of Nigeria CBN

The airline in a statement yesterday said the suspension took effect from October 29, 2022, to mitigate against further losses moving forward.

Emirates had in August suspended flights to Nigeria over its 85 million dollars blocked revenue, while the International Air Transport Association IATA also said foreign airlines have not been unable to repatriate 464 million dollars from Nigeria.

Governor of the CBN, Godwin Emefiele subsequently promised to release 265 million dollars to foreign airlines to offset part of the trapped funds but Emirates said they are yet to receive an allocation of their blocked funds to be repatriated.

Written by: urbanradio042

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