Emirates: Repatriating blocked funds out of Nigeria has been slow

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Emirates Airline says it still has a “substantial” amount of ticket sale revenue trapped in Nigeria.

The airline also said it has made only slow progress in repatriating blocked funds out of Africa’s biggest economy, it said on Friday.

On Thursday, Aviation Minister Hadi Sirika told reporters that the Dubai-based carrier had received most of its funds out of Nigeria and had about $35 million that still needed to be released.

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READ ALSO: Again, Emirates suspends flight operations to Nigeria over trapped funds

Emirates declined to say how much was trapped in Nigeria, but a spokesperson said about half of the amount in its backlog was overdue for repatriation and that the process “remains beset with constant delays”.

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Nigeria is withholding $743 million in revenue earned by international carriers operating in the country, the highest amount owed by any nation, the global airline industry association IATA said last week.

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