On Wednesday, Nigeria declared that it had broken the law when airline companies refused to offer tickets in the local Naira currency.
Airlines found to be responsible for such actions may face consequences for selling tickets in foreign currencies, according to Nigeria’s aviation minister Hadi Sirika.
After the government’s weekly Federal Executive Council meeting in Abuja, Sirika told journalists that refusing to sell tickets in Naira and preventing access to cheaper seats were violations of local laws.
“We won’t allow it, and anyone who does will face consequences.”
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The minister made his remarks two weeks after airlines announced they would stop operating flights to and from Nigeria.
In the middle of August, Emirates Airline announced that it had halted operations in Nigeria due to an inability to pay off debts that it said were increasing by more than $10 million per month.
The airline claimed its current debt in Nigeria is at $85 million.
In a statement, Emirates Airlines spokesman Rula Tadros said the company had made “considerable efforts to initiate dialogue with the relevant authorities” and had looked into “every avenue to address our ongoing challenges in repatriating funds.”
A week later, the Central Bank of Nigeria (CBN) said that it had issued $265 million to domestic airlines in order to clear any unclaimed proceeds from ticket sales.
A breakdown of the amount, according to CBN spokesman Osita Nwanisobi, shows that $230 million was issued as a special FX intervention and another $35 million was released via the Retail SMIS auction.
According to Nwanisobi, “With Friday’s release, it is anticipated that operators and travelers alike will breathe a sigh of relief, as some airlines had threatened to halt operations due to unremitted funds for the outstanding sale of tickets.
On Wednesday, Sirika gave the assurance that the CBN is making efforts to prevent the trapping of airline funds.
We are making every effort to satisfy these airlines in Nigeria. Both of us require their services, according to Sirika.
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