Emirates airline announced that it will suspend flights to Nigeria from the start of September as Nigeria has been unable to repatriate its money from Nigeria.
The problem arose because Nigeria restricted access to foreign currency, Reuters news agency reports.
In a statement, Emirates said it made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution.
“[It is] regrettable there has been no progress,” it said.
In June, the International Air Transport Association said that Nigeria was not handing over $450m (£370m) owed to various airlines, the report says.
The airline said it could reconsider its decision “should there be any positive developments in the coming days”.