$600m trapped funds: Emirates halts operations to Nigeria September 1

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Emirates Airlines has announced the suspension of its flights to and from Nigeria effective September 1, 2022.

Emirates said in a statement that it took the action following its inability to repatriate its trapped funds from Nigeria

However, it said should there be any positive developments in the coming days regarding its blocked funds, “we will of course re-evaluate our decision.”

The airline further stated that it remains “keen to serve Nigeria and our operations provide much needed connectivity for Nigerian travellers, providing access to trade and tourism opportunities to Dubai and to our broader network of over 130 destinations.”

At least, $600 million of over 20 foreign airlines has been blocked in Nigeria since the beginning of the year.

Recall that the airline had earlier reduced its 11 weekly flight frequencies into Nigeria to seven in protest against its money trapped in the country.

The statement reads: “Emirates has tried every avenue to address our ongoing challenges in repatriating funds from Nigeria, and we have made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution.

”Regrettably, there has been no progress. Therefore, Emirates has taken the difficult decision to suspend all flights to and from Nigeria, effective September 1 2022, to limit further losses and impact on our operational costs that continue to accumulate in the market.

“We sincerely regret the inconvenience caused to our customers, however the circumstances are beyond our control at this stage. We will be working to help impacted customers make alternative travel arrangements wherever possible.

“Should there be any positive developments in the coming days regarding Emirates’ blocked funds in Nigeria we will of course re-evaluate our decision. We remain keen to serve Nigeria, and our operations provide much needed connectivity for Nigerian travellers, providing access to trade and tourism opportunities to Dubai and to our broader network of over 130 destinations.”

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