News
Latest News
news bulletin
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Other News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Beirut
21
o
Mount Lebanon
21
o
Metn
19
o
Keserwan
19
o
North
20
o
South
21
o
Bekaa
18
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Al Arrab - Nadi Al Chark
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
21
o
Mount Lebanon
21
o
Metn
19
o
Keserwan
19
o
North
20
o
South
21
o
Bekaa
18
o
News
Programs
The News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Programs
Series
Talk Show
News Bulletin
Variety
Comedy
Other
Sports
Documentaries
The Untold History
New Year Shows
Lebanon’s Centennial
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Emirates airline says 'substantial' ticket revenue trapped in Nigeria
World
2023-03-24 | 06:47
High views
Share
Share
2
min
Emirates airline says 'substantial' ticket revenue trapped in Nigeria
Emirates Airline has a "substantial" amount of ticket sale revenue trapped in Nigeria and has made only slow progress in repatriating blocked funds out of Africa's biggest economy, it said on Friday.
A day earlier Nigeria's 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.
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".
Nigeria is withholding $743 million in revenue earned by international carriers operating in the country, the highest amount owed by any nation, global airline industry association IATA said last week.
Sirika said on Thursday that the country was aiming to release money from foreign airlines' ticket sales, held up by dollar shortages in the country, but did not provide a timeline.
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.
President Muhammadu Buhari in February directed the central bank to increase the amount of foreign currency allocated to Emirates after the airline suspended flights to and from Nigeria because it was unable to repatriate funds.
The Emirates spokesperson said the carrier had made many concerted efforts to restart flights to Africa's most populous nation since halting them five months ago, but a solution continued to be stalled.
Oil is Nigeria's biggest foreign exchange earner, but rampant crude theft in the Niger Delta and years of under-investment have hit output and strained government finances. For a few months last year, Angola overtook Nigeria as Africa's biggest oil producer and exporter.
Reuters
World
Middle East
Emirates
Nigeria
UAE
Next
Pakistan's new fuel pricing scheme needs to be agreed before IMF deal
Hong Kong government announces measures to lure wealthy family offices
Previous
Related Articles
d-none hideMe
0
Middle East
2023-05-24
UAE cabinet approves Emirates Investment Authority restructuring, appoints head
Middle East
2023-05-24
UAE cabinet approves Emirates Investment Authority restructuring, appoints head
0
Middle East
2023-05-04
UAE's Emirates, Etihad airlines expand interline cooperation
Middle East
2023-05-04
UAE's Emirates, Etihad airlines expand interline cooperation
0
Middle East
03:32
Iran, Saudi Arabia, UAE attend BRICS meeting in South Africa, as bloc mulls expansion
Middle East
03:32
Iran, Saudi Arabia, UAE attend BRICS meeting in South Africa, as bloc mulls expansion
0
Middle East
2023-06-02
Congo-UAE gold export deal raises 'great concerns'
Middle East
2023-06-02
Congo-UAE gold export deal raises 'great concerns'
Recommended For You
d-none hideMe
0
World
14:52
Analysis-US hotel developers run out of cash as construction lending dries up
World
14:52
Analysis-US hotel developers run out of cash as construction lending dries up
0
World
14:28
Ambassador Dr. Abir T. Audi honors Lebanese artist Kahlil Gibran at New York Exhibition
World
14:28
Ambassador Dr. Abir T. Audi honors Lebanese artist Kahlil Gibran at New York Exhibition
0
World
13:50
US banks could face 20% capital hike under new global rules
World
13:50
US banks could face 20% capital hike under new global rules
0
World
12:45
Venezuela's Maduro visits Saudi Arabia on an official trip
World
12:45
Venezuela's Maduro visits Saudi Arabia on an official trip
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
2023-04-08
The role of judges: Challenges ahead for Lebanon's upcoming municipal elections
News Bulletin Reports
2023-04-08
The role of judges: Challenges ahead for Lebanon's upcoming municipal elections
0
Variety
2023-01-20
Nadine Labaki speaks out against plagiarism complaint
Variety
2023-01-20
Nadine Labaki speaks out against plagiarism complaint
0
Middle East
2023-05-09
Oil giant Saudi Aramco reports $31.88B profit in 1st quarter
Middle East
2023-05-09
Oil giant Saudi Aramco reports $31.88B profit in 1st quarter
0
Press Highlights
2023-05-13
Here are Jumblatt's rules: On Frangieh and others alike
Press Highlights
2023-05-13
Here are Jumblatt's rules: On Frangieh and others alike
Videos
d-none hideMe
0
World
2023-05-31
US Assistant Secretary Leaf indicates administration’s consideration of sanctions on Lebanese leaders over presidential election stalemate
World
2023-05-31
US Assistant Secretary Leaf indicates administration’s consideration of sanctions on Lebanese leaders over presidential election stalemate
0
Middle East
2023-05-30
Lebanese Army successfully frees kidnapped Saudi citizen and arrests kidnappers: Commander Joseph Aoun
Middle East
2023-05-30
Lebanese Army successfully frees kidnapped Saudi citizen and arrests kidnappers: Commander Joseph Aoun
0
Lebanon News
2023-05-28
New Lebanese Embassy Building in Canada: A Triumph of Determination and Belonging
Lebanon News
2023-05-28
New Lebanese Embassy Building in Canada: A Triumph of Determination and Belonging
0
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
0
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
0
Lebanon News
2023-01-25
Beirut blast investigations: The latest
Lebanon News
2023-01-25
Beirut blast investigations: The latest
0
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
0
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
0
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
04:05
Speaker Berri calls for a session on June 14th at 11:00 AM to elect a president
Lebanon News
04:05
Speaker Berri calls for a session on June 14th at 11:00 AM to elect a president
2
Middle East
03:32
Iran, Saudi Arabia, UAE attend BRICS meeting in South Africa, as bloc mulls expansion
Middle East
03:32
Iran, Saudi Arabia, UAE attend BRICS meeting in South Africa, as bloc mulls expansion
3
Lebanon Economy
03:37
Hanke's Annual Misery Index: Lebanon's inflation woes push it to fourth place
Lebanon Economy
03:37
Hanke's Annual Misery Index: Lebanon's inflation woes push it to fourth place
4
Lebanon News
10:10
Independent MPs considering alternatives to blank votes in upcoming Presidential elections: LBCI sources
Lebanon News
10:10
Independent MPs considering alternatives to blank votes in upcoming Presidential elections: LBCI sources
5
Middle East
07:30
Iran to reopen its embassy in Riyadh on Tuesday - Fars news
Middle East
07:30
Iran to reopen its embassy in Riyadh on Tuesday - Fars news
6
Press Highlights
01:42
Nabih Berri expresses concern over Jumblatt's vacation decision in the presidential file
Press Highlights
01:42
Nabih Berri expresses concern over Jumblatt's vacation decision in the presidential file
7
News Bulletin Reports
08:14
Berri's call for electoral session: Is Lebanon heading toward change?
News Bulletin Reports
08:14
Berri's call for electoral session: Is Lebanon heading toward change?
8
Lebanon News
05:24
The media office of Saad Hariri stands firm on decision to suspend political activities
Lebanon News
05:24
The media office of Saad Hariri stands firm on decision to suspend political activities
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More