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Customs Tightens Currency Controls, Engages Foreign Airlines
The Business NG
|The BusinessNG
In a move to strengthen enforcement of Nigeria's financial regulations and curb illicit financial flows, the Nigeria Customs Service (NCS) has embarked on a sensitisation campaign targeting international airline operators.
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The exercise, held on Saturday, July 5, 2025, at the Nnamdi Azikiwe International Airport in Abuja, brought together key enforcement stakeholders to reemphasize the critical role airline personnel play in supporting Nigeria's currency declaration policy.
Led by the Assistant Comptroller of Customs for the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Unit, Salihu Mas'ud, the initiative focused on reinforcing compliance with existing rules that mandate the declaration of physical cash exceeding $10,000 or its equivalent by any inbound or outbound traveller. Noncompliance, officials warned, attracts serious penalties such as confiscation of funds, legal sanctions, and prosecution under Nigeria's anti-money laundering framework.
This story is from the The BusinessNG edition of The Business NG.
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