banking

Buhari directs Nigeria central bank to allocate Emirates more dollars-

February 16, 2023

Nigerian President Muhammadu Buhari has directed the country’s central bank to increase the amount of foreign currency allocated to Dubai's Emirates, after the airline suspended flights to and from Nigeria because it was unable to repatriate funds.

Nigeria is facing severe dollar shortages, forcing many citizens and businesses to seek foreign exchange on the black market, where its Naira currency has progressively weakened.

The United Arab Emirates airline suspended its Nigerian flights on two occasions last year as local currency earned from ticket sales was trapped in the Africa's most populous nation.

“In a telephone conversation with UAE President Sheikh Mohamed bin Zayed Al Nahyan on Monday, Buhari requested a resumption of Emirates' flights to Nigeria and the lifting of a 'blanket' visa ban imposed on Nigerians by the UAE,” Buhari's office said.

Appropriate attention

Buhari assured the UAE leader that the issue of the Emirates funds was receiving appropriate attention alongside those of other foreign airlines operating in Nigeria.

theeastafrican



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