NCAA sets deadline for airlines to comply with $10,000 currency declaration requirement

• NCAA directed each overseas airlines to guarantee passengers state immoderate currency oregon negotiable instruments exceeding $10,000 erstwhile arriving successful Nigeria
• The NCAA has outlined 2 cardinal actions for airlines, including making announcements and distributing declaration forms onboard
• Airlines that neglect to comply with the caller regulations volition look sanctions, arsenic the NCAA aims to curb illicit wealth transfers and align with planetary fiscal standards

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

All overseas airlines operating flights into Nigeria person been directed by the Nigerian Civil Aviation Authority to adhere to the $10,000 currency declaration requirement.

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Source: Getty Images

As portion of measures to amended anti-money laundering compliance, The Punch reported that the authorization stated travellers indispensable state immoderate currency oregon negotiable instruments exceeding the limit.

The NCAA claims that the order, dated April 24, 2025, and known arsenic NCAA/CPD/ABV/298, aims to adjacent enforcement gaps successful the existent requirements for inbound passengers to state their currency.

Michael Achimugu, the Director of Public Affairs and Consumer Protection, made the announcement utilizing his official X account.

“International carriers indispensable instrumentality 2 cardinal actions, which see making inflight oregon pre-landing announcements informing passengers of their ineligible work to state immoderate currency oregon Bearer Negotiable Instruments exceeding $10,000 USD oregon its equivalent upon accomplishment successful Nigeria.“Distribute currency declaration forms onboard for passengers to implicit earlier landing. The NCAA has received reports indicating that immoderate airlines are yet to comply with this directive," the connection read.

According to the NCAA, these regulations are indispensable to stopping the illicit transfer of important quantities of wealth crossed planetary borders and are successful enactment with champion practices from astir the world.

The Authority warned that afloat practice from planetary airlines is essential, saying, “Please enactment that the practice of each planetary airlines operating successful Nigeria is captious to supporting the country’s efforts to align with planetary fiscal standards.”

The authorities truthful emphasized however important it is that this regularisation beryllium afloat implemented, particularly with respect to inbound rider disclosures.

“Compliance volition beryllium intimately monitored, and non-compliant airlines volition look due sanctions,” it added.

Photo Credit: Contributor
Source: Getty Images

NCAA speaks connected aerial fares

Legit.ng reported that the Nigerian Civil Aviation Authority (NCAA) has clarified that it does not power airline summons prices.

According to the NCAA, deciding terms of hose tickets is deregulated worldwide, and Nigeria follows the aforesaid principles.

The NCAA manager of Consumer Protection and Public Affairs, Michael Achimugu, explained that airlines indispensable taxable their airfare database to the Civil Aviation Authority (CAA) annually, pursuing established guidelines.

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Source: Legit.ng