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AP National Business

Emirates to suspend Nigeria flights over blocked funds

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Published 7:00 AM

By CHINEDU ASADU
Associated Press

ABUJA, Nigeria (AP) — The Dubai-based airline Emirates says it will suspend all flights to Nigeria from September 1 because the West African country has failed to repatriate millions of dollars of its funds. The airline has been battling to repatriate millions of dollars in its revenue from Nigeria and said it took the “difficult decision” in order to limit further losses. Emirates announced in July that it has $85 million “awaiting repatriation from Nigeria,” a figure it said was rising by more than $10 million every month. Analysts expressed worry that Emirates’ planned suspension of flights could scare away investors from Nigeria whose foreign investments dropped by 81% over the last two years, according to government statistics released earlier this year.

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