June 5, 2026
By Emma Ujah, Abuja Bureau Chief
The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit.
The bank also retained the earlier provision for the movement or import of cash of up to $10,000 without having to declare it.
A document cited by Vanguard stated, “The following may be exported from Nigeria: Without declaration, foreign currency, either in cash or any other credit instruments not exceeding $10,000.00 or its equivalent in other foreign currencies.
