Less than one week after the Central Bank of Nigeria (CBN) approved the release of $265million of trapped foreign airlines funds from the Nigerian banking system, the leading Middle East carrier, Emirates Airlines, announced the reinstatement of its flight operations to Lagos, starting September 11, 2022.
The airline announced it in an emailed notice to customers on Wednesday.
“We are pleased to inform you that, effective 11 September 2022, we will reinstate the operations of our flights,” Emirates said.
“Inbound flights from Dubai to Lagos (EK783) and outbound flights from Lagos to Dubai (EK784) will recommence from Sunday, 11th September 2022.
“Lagos flights after 30th September 2022 will be advised in due course.”
The flag carrier of the United Arab Emirates (UAE) suspended flight operations to Nigeria on August 18.
The airline said the decision was due to its inability to repatriate its earnings in foreign exchange from Nigeria.
The International Air Transportation Association (IATA) expressed disappointment over the issue, saying that foreign airlines’ funds trapped in Nigeria had increased from $450 million in May to $464 million in July.
In its defence, the Nigerian government had consistently maintained that the country was facing a forex exchange crisis, and could not meet various obligations, including revenue repatriation by foreign airlines and dollar requests by citizens and businesses.
However, following a torrent of pressure from stakeholders and British Airways’ blocking of Nigerian travel agents from issuing tickets, the federal government released $265 million to the airlines. IATA, while welcoming the move, said it would encourage foreign carriers to continue servicing the country.
