Coalition Alleges Plan to Ban UAE Visas Will Lead To A Currency Crisis In Nigeria

The United Arab Emirates’ (UAE) proposal to bar Nigerians from entering the country on visas has been criticized by a group of ethnic youth leaders as a scheme to blackmail Nigeria and the Central Bank of Nigeria (CBN).

The NEYLC is made up of the Middle Belt Youths, Ohanaeze Ndigbo Youths Movement, Oduduwa Youths, and Arewa Consultative Youths Movement (ACYM).

They expressed their views in a statement issued by Nwada Ike Chiama, the secretary-general of the Ohanaeze and leader of the coalition’s secretariat.

The United Arab Emirates is threatening a visa suspension, according to the ethnic youth leaders, because of the aviation companies’ trapped funds in Nigeria.

They reminded that the UAE government owns Emirates Airline.

The threat to prohibit UAE visas, according to the statement, is an attempt to intimidate Nigeria and the CBN, which is run by Dr. Godwin Emefiele.

“We boldly assert that this action is intended to devastate our economy and bring about forex instability in our beloved nation. The manner in which the CBN has diligently released foreign currency to the airlines makes this very evident.

“In August, the CBN issued $110 million to foreign airlines, and on October 31st, another $120 million is scheduled to be released.

“The UAE’s decision should only be viewed in the perspective of defending Emirates Airline.

“Therefore, the UAE’s decision to impose a visa ban on Nigerians is misguided and ought to be denounced by all supporters of the nation and free commerce.”