Due to its inability to transfer money from the nation with the largest economy in Africa, Emirates, which is controlled by the Emirate of Dubai, announced on Thursday that it has suspended its flights to Nigeria for the second time since September.
Nigeria is experiencing a severe dollar shortage that is causing many people and businesses to purchase dollars on the black market, which has caused the value of the local currency, the naira, to steadily decline.
According to a spokeswoman for Emirates Airlines, the business attended many meetings with the Nigerian government and suggested means to move money that couldn’t be transferred.
The spokesman added in a statement: “This included the transfer of at least 80% of our reserved money remaining at the end of October 2022, in addition to finding a guaranteed mechanism to avoid challenges and delays related to the transfer of funds in the future.
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He continued, “In light of these exceptional circumstances, Emirates Airlines did not find a substitute for the suspension of flights to Nigeria, including from October 29, 2022 to avoid more losses in the future. ”
It has not yet been possible to reach a spokesperson for the Nigerian Ministry of Aviation for comment.
Although Emirates Airlines did not specify how much it owed Nigeria, it resumed flights in September when the Nigerian Central Bank paid the airline $ 265 million to satisfy the amount of unpaid ticket sales.
Due to the airline’s failure to transfer ticket purchases, Emirates Airlines has re-suspended its flights to Nigeria.
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