The Nigeria Civil Aviation Authority (NCAA) has reminded international airlines operating in Nigeria to strictly enforce the currency declaration rule for inbound passengers.
The regulatory body emphasised that passengers carrying more than $10,000 or its equivalent in cash or bearer negotiable instruments must declare it upon arrival in Nigeria.
NCAA noted that some international airlines have not fully complied with this directive, despite previous reminders.
To address this, the authority has directed airlines to inform passengers about the declaration requirement through in-flight or pre-landing announcements.
Additionally, airlines are required to distribute currency declaration forms to passengers before landing.
NCAA stressed that compliance with this rule is crucial to Nigeria’s efforts to strengthen its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework and align its financial control systems with global standards.
The authority warned that it will closely monitor compliance and impose sanctions on airlines found violating the directive.
The agency’s renewed call for compliance highlights the importance of cooperation between airlines and regulatory authorities in maintaining the integrity of Nigeria’s financial system.
By enforcing the currency rule, airlines can play a critical role in preventing financial crimes and promoting transparency in the country.
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