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Emirates Rules out Flying to Nigeria, Claiming CBN has not yet Released the Trapped Funds.
Emirates rules out flying to Nigeria, claiming CBN has not yet released the trapped funds.
Emirate Airline said that for the time being, it would not be traveling back to Nigeria because the Central Bank of Nigeria (CBN) has not yet made available 50% of the funds authorized for paying off its backlog.
NewsReport gathered that according to a press release from Emirate Airline that was made available to LEADERSHIP Weekend, the number of flights available to Nigerian travelers will continue to decline until the federal government adopts a dedicated plan to provide concrete action for the fund repatriation. Emirate Airline said that for the time being, it would not be traveling back to Nigeria because the Central Bank of Nigeria (CBN) has not yet made available 50% of the funds authorized for paying off its backlog.
A press statement made available to LEADERSHIP Weekend by Emirate Airline said that unless there is a committed strategy by the federal government to deliver concrete action for the fund repatriation, air services for Nigerian travelers will continue to dwindle.
According to Emirate, the government has yet to take concrete actions to ensure the repatriation of trapped funds, despite several solutions suggested by the airline.
The statement read, “It has been five months since Emirates suspended operations to and from Nigeria, and during this time we have seen little progress in the clearing of our backlog of funds.”
“As of today, Emirates still has a substantial balance of blocked funds that is yet to be repatriated, and the progressive clearing of our backlog remains beset with constant delays.” Today, around 50 percent of the amount approved for clearing within our backlog is still overdue for repatriation.
