Nigerian President Muhammadu Buhari has called for a resumption of Emirates' Nigerian operations and has directed the Central Bank of Nigeria to make more foreign currency available to the Emirati flag carrier and other foreign airlines affected by the West African nation's policy to block the repatriation of foreign currency.
On his official Twitter account, Buhari on February 14 said he had phoned United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan to offer condolences on the death of his mother-in-law, Sheikha Maryam Al Falasi. On this occasion, he had "also urged him to lift the blanket visa ban by the UAE on Nigerians."
"I also called for a resumption of suspended Nigerian operations of Emirates Airlines. I assured Sheikh Mohamed that the fund repatriation issues that led to the suspension are receiving appropriate attention. We will make additional foreign exchange available for affected airlines," he said.
"Nigeria and the UAE have enjoyed excellent and beneficial relations for many years, including at the highest political levels. We can and must continue to iron out whatever issues arise between us," he stated.
Emirates suspended its Nigerian flights twice last year in protest against its ticket revenue being withheld, the last time indefinitely from October 29, 2022, following several unsuccessful meetings with the Nigerian government. Emirates had proposed a plan to progressively release at least 80% of its funds by the end of October 2022. When this did not happen, the airline pulled its routes, declaring its Nigerian operations were running at a loss and were no longer commercially viable.
Emirates had only reinstated its flights to Nigeria on September 11 after having suspended them on September 1, demanding the payout of USD85 million of its revenue. This came after the Central Bank of Nigeria had released USD265 million to international airlines to settle outstanding ticket sales.
By December 7, 2022, Nigeria topped the list of culprits worldwide by withholding USD551 million of airlines' funds according to the International Air Transport Association (IATA), which said Nigerian authorities were engaging with airlines and working to find solutions.
Repatriation issues arose in March 2020 when demand for foreign currency in the country outpaced supply, and the country's banks were not able to service currency repatriations. Consequently, the Nigerian federal government decided to implement a currency change. Buhari authorised the central bank to redesign major Nigerian bank notes, but this caused a cash shortfall.
On February 3, Buhari said he was "aware of the cash shortages and hardship being faced by people and businesses on account of the Naira redesign". AFP reported that violent protests erupted in Nigeria over the scarcity of cash this week. On February 15, protesters attacked automated teller machines (ATM) and blocked roads in three cities.
