Business

CBN approves export of $50,000 under new FX guidelines

The only condition according to the Guidelines is that such cash must be declared at the point of exit.

Published

3 months ago

June 3, 2026

OCHEFA

158 Views

The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can export $50,000 cash.

The only condition according to the Guidelines is that such cash must be declared at the point of exit.

The bank also retained the earlier provision for the export or import of cash of up to $ 10,000 without having to declare it.

According to the document, “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.“

Any amount in excess of $10,000.00 but not more than $50,000.00 or its equivalent in other foreign currencies, provided the whole amount is declared at the point of exit.

” Any amount above $50,000.00 or its equivalent in other foreign currency, subject to evidence of transaction/procurement through an Authorised Dealer.“Foreign currency, drafts, etc, brought into the country less expenses incurred, except foreign currency held as a ship or aircraft fund.”

Foreign currency, drafts, etc, brought into the country less expenses incurred, except foreign currency held as a ship or aircraft fund.”

“Foreign currency, either in cash or any other credit instrument, not exceeding $10,000.00 or its equivalent in other foreign currencies, may be imported into Nigeria by a person without declaration.“

Related Topics:CBN new FX guidelines Featured Foreign currency

Up Next

Naira to Dollar exchange rate today, June 4, 2026

Don't Miss

Broadcaster CANAL+ becomes first French company to list in Johannesburg

Click to comment

Business

CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA

Published

2 hours ago

August 18, 2026

OCHEFA

10 Views

•Mrs Hakama Sidi Ali.

The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).

The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.

The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.