Hi. Welcome to 234Digest: an independent, nonpartisan, reader-focused newsletter that informs you in quick time with fact-based news, features and insights about Nigeria. In this edition, we’re covering blocked funds in Nigeria’s air transport sector, a string of lawsuits and more.

Blocked funds 

Emirates Airlines said on Friday it had a "substantial" amount of ticket sale revenue trapped in Nigeria as foreign airlines struggle to convert local currency to repatriate their profits from Africa’s biggest economy.

The Dubai-based carrier declined to say how much was trapped in Nigeria, but said progress in repatriating blocked funds out of Nigeria remained slow, Reuters reported.

Earlier on Thursday, Nigeria's aviation minister Hadi Sirika told reporters that Emirates had received most of its funds out of Nigeria, but $35 million still needed to be released.

A shortage of foreign currency is making it hard for Nigeria to fulfill its financial obligations to foreign airlines that need to convert local currency to repatriate their profits. Recently, the International Air Transport Association, IATA, said Nigeria was owing its members $743 million in blocked funds, the highest amount owed by any nation.

Emirates Airlines suspended flights to Nigeria in October last year, citing inability to maintain operational costs due to backlog of unreleased funds in the country. It is yet to resume flights.

Nigeria has been dealing with a foreign exchange challenge caused by a decline in the country’s dollar earnings from crude oil production — that’s operated below capacity due to pipeline vandalism and oil theft.

Last September, Nigerian banks suspended international transactions on Naira debit cards as the forex challenge worsened.

Long stories short

General Oladipo Diya: Nigeria’s ex-Chief of Staff is dead

Former Chief of General Staff during the military regime of late General Sani Abacha, Lt-General Oladipo Diya (retd), is dead. He died in the early hours of Sunday at a hospital in Lagos, Premium Times reported. He was 78 going to 79 on April 3rd when he died.

Nigerian politician found guilty in UK organ-trafficking plot

Ike Ekweremadu, former deputy president of the Nigerian Senate and a lawyer, and his wife, Beatrice, were found guilty of arranging the travel of a 21-year-old street trader to the U.K. with a view to exploiting him for a kidney donation. A medical “middleman’’ in the plot was also found guilty.

Seplat sues former chairman over Exxon blocks sale

Nigerian oil and gas company Seplat Energy Plc has filed a lawsuit against the company’s former chairman over his involvement in the firm’s efforts to acquire assets from ExxonMobil Corp. The firm is accusing Ambrosie Orjiakor of making an unauthorized proposal on the company’s behalf to Nigeria’s President with the aim of unblocking the stalled transaction with Exxon. It is seeking 5 billion Naira ($10.9 million) in damages.

American heavyweight boxer files lawsuit ahead of bout with Anthony Joshua 

American boxer Jermaine Franklin is suing boxing promoter Salita promotions, claiming exploitative, oppressive and unethical business practices, a week before his big fight with Anthony Joshua, the Nigerian British boxer and former unified heavyweight world champion. Franklin says he needs an intervention against a ‘take it or leave it’ boxing industry tactic.

English Premier League clubs eye Nigeria’s Victor Osimhen

Napoli will reportedly demand £150m for their star striker Victor Osimhen this summer with Manchester United and Chelsea chasing his signature. The Nigerian forward has scored 25 goals for the Italian Seria A leaders this season, making him a hot property.

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