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The short answer
There is no fixed ban on carrying cash out of Nigeria, but under the Money Laundering (Prevention and Prohibition) Act 2022 you must declare to the Nigeria Customs Service any cash or negotiable instruments above US$10,000 or its equivalent when you leave or enter the country. Failing to declare, or declaring falsely, can lead to forfeiture of the money, imprisonment of at least two years, or both.
The rule in plain words
Section 3 of the Money Laundering (Prevention and Prohibition) Act 2022 covers the movement of cash across Nigeria's borders. If you are carrying more than US$10,000, or the same value in another currency or in naira, you must declare it to the Nigeria Customs Service. Customs then reports declarations to the Central Bank of Nigeria and the Nigerian Financial Intelligence Unit.
Declaring is not the same as paying a tax or asking permission. A declaration records that you are carrying the money. Customs officials have said publicly that it is not a crime to carry money out of the country; the offence is failing to declare it.
- Threshold
- More than US$10,000 or its equivalent, per traveller
- Applies to
- Travellers leaving and entering Nigeria
- Declared to
- Nigeria Customs Service
- Penalty for not declaring or declaring falsely
- Forfeiture of the undeclared funds, imprisonment of not less than two years, or both
What counts towards the US$10,000
- Foreign banknotes of any currency: dollars, pounds, euros, CFA francs and others, added together
- Naira notes, converted to their dollar equivalent
- Negotiable instruments, such as traveller's cheques and bearer cheques
- Money carried for someone else, which still counts as money you are carrying
Worked example
Example only, with invented rates. Ada is flying from Lagos to London for a family wedding. She carries $3,000 in cash for her own spending and £5,000 her aunt asked her to deliver to a cousin. At an example rate of $1.30 to £1, the pounds are worth $6,500. Her total is $9,500, below the threshold, so no declaration is required. If her uncle hands her another ₦2,000,000 at an example rate of ₦1,550 to $1 (about $1,290), her total rises to about $10,790 and she must declare it.
Even below the threshold, carrying large sums for other people is risky. You may be asked to explain the source and purpose of the money, at departure or at arrival. The destination country also has its own rules: the UK, the US, Canada and the EU all have their own declaration requirements, so check both ends of the trip.
How to declare and what to bring
- Tell Customs at the airport before you pass through departure screening, and ask for the currency declaration form.
- Fill in the amount, currency, source and purpose of the money.
- Have documents ready: bank withdrawal slips, receipts from authorised dealers, invoices or letters explaining the purpose.
- Keep your copy of the declaration until you reach your destination and for some time after.
Nigeria Customs has worked on electronic declaration to reduce delays, but procedures change. Arrive early if you plan to declare.
Why carrying cash is often the worst option
Cash can be lost, stolen or seized, and changing it abroad often comes with a poor rate. Many travellers now carry a modest amount of cash for arrival (a taxi, a meal, a SIM card) and keep the rest in an account they can spend from or transfer from. Our guide to spending abroad on a trip compares cards, cash and accounts.
| Option | Pros | Cons |
|---|---|---|
| Cash | Works anywhere, no card limits | Theft, loss, declaration rules, poor exchange abroad |
| Naira card abroad | No need to buy currency in advance | Limits, declines and high conversion costs are common |
| Foreign-currency balance | Spend or send in the local currency | Needs planning before you travel |
Carrying money for other people
Nigerians travelling abroad are often asked to carry cash for relatives, friends or business contacts. It feels like a favour, but the legal responsibility sits with you: if the total you carry is above the threshold, you are the one who must declare it, and you are the one who must explain where it came from.
- Ask for the amount in writing, and count it yourself before you leave home.
- Ask for a short note naming the sender, the recipient and the purpose.
- Decline sealed envelopes or packages whose contents you cannot check.
- Suggest a transfer instead. For family support, it is usually cheaper and leaves a record.
Fraudsters sometimes recruit travellers as unwitting couriers. Our guide to money transfer scams targeting the diaspora describes the common patterns.
Coming back to Nigeria with cash
The same declaration rule applies on arrival. Returnees bringing savings home in cash should declare anything above US$10,000 and keep proof of where it came from. For larger amounts, a bank transfer leaves a clean record and avoids the risks of carrying cash. See moving back to Nigeria: bringing your money home.
Where Pryme fits
A Pryme Personal Account holds NGN, USD, GBP and EUR, with local account details for each currency, so you can arrive with less cash and keep the rest in the currency you will spend. Money stays in the currency it arrived in; Swap converts only when you choose, with the rate and fee shown first. Read more on multicurrency.
Questions people ask
How much dollars can I travel with from Nigeria?
You can carry any amount, but you must declare to Nigeria Customs anything above US$10,000 or its equivalent. Failing to declare can lead to forfeiture and imprisonment.
Is naira included in the $10,000 limit?
Yes. The threshold covers cash in any currency, including naira, valued at its US dollar equivalent, plus negotiable instruments.
What happens if I don't declare cash at Lagos airport?
Under the Money Laundering (Prevention and Prohibition) Act 2022, undeclared or falsely declared money can be forfeited, and you can be jailed for at least two years, or both.
Do I need to declare cash when entering Nigeria?
Yes. The declaration rule applies to travellers entering and leaving Nigeria with more than US$10,000 or its equivalent.
Sources
- Money Laundering (Prevention and Prohibition) Act 2022 (LawPadi) · accessed Oct 2026
- Customs: travellers must declare cash above $10,000 (BusinessDay) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.