Nigeria’s Aviation body Urges Airlines to Strengthen Currency Declaration Compliance

Nigeria

Dooyum Naadzenga 

As a part of the renewed effort to enhance financial security, the Nigeria Civil Aviation Authority (NCAA) has issued a vital reminder to all international airlines operating inbound flights to Nigeria regarding currency declaration requirements for passengers. This directive is part of the nation’s ongoing strategy to bolster its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

The NCAA stressed the importance of informing passengers about their legal obligation to declare any currency or Bearer Negotiable Instruments (BNI) exceeding $10,000 USD or its equivalent upon arrival in Nigeria. As international travel resumes, the Authority is keen to ensure that travelers are fully aware of these requirements to prevent any potential legal complications.

To facilitate compliance, airlines are required to make inflight or pre-landing announcements. These communications will serve as crucial reminders for passengers, ensuring they understand their responsibilities before arriving in Nigeria. The NCAA believes that clear messaging is key to maintaining a secure travel environment.

Additionally, the NCAA mandates that airlines distribute currency declaration forms onboard, allowing passengers to complete them before landing. This proactive measure is designed to streamline the declaration process, making it easier for travelers while supporting Nigeria’s commitment to international financial regulations.

Despite the clarity of these directives, reports have emerged indicating that some airlines have yet to comply. The NCAA emphasizes that the cooperation of all airlines is essential to the success of these initiatives. Non-compliance could result in sanctions, highlighting the seriousness with which the Authority views this matter.

This initiative aligns with broader efforts by the Nigerian government to enhance its financial systems and ensure the country remains a reliable destination for international trade and tourism. By adhering to these regulations, airlines can play a crucial role in supporting Nigeria’s economic stability and integrity.

The NCAA encourages all airlines to take these directives seriously and collaborate with the Authority in implementing them. Together, they can create a safer travel experience for all, while also upholding Nigeria’s international obligations.

NCAA thanks airlines for their continued cooperation and commitment to these vital measures. With collective efforts, Nigeria can ensure a thriving gateway to Africa, fostering economic growth and stability for future generations.