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The short answer
If you arrive in Canada carrying currency or monetary instruments worth CAD 10,000 or more in total, in any mix of currencies, you must report it to the CBSA on arrival, on form E677. Carrying it is legal; not reporting it is not. Unreported currency can be seized, and getting it back costs 5% of the amount (capped at CAD 2,500) on a first, non-concealed case, rising to 25% or 50% where money was hidden or a false statement made.
The rule at the Canadian border
CBSA Memorandum D19-14-1 (September 2024) requires anyone arriving in Canada with currency or monetary instruments worth CAD 10,000 or more to report them. Foreign currency is valued at the Bank of Canada rate in effect at the time. The rule applies to what you carry on you and in your baggage on the same flight, and to anyone carrying money on behalf of someone else.
- Threshold
- CAD 10,000 or more in total, across all currencies and instruments you carry
- Form for travellers
- E677, Cross-Border Currency or Monetary Instruments Report, Individual
- Other forms
- E667 for mail, courier or carrying on behalf of others; E668 for the person in charge of a conveyance
- Is it a tax?
- No. Reporting creates a record; there is no duty on the money
Worked example (illustrative figures only)
You land in Toronto carrying US$6,000, CAD 2,000 and £500. At example rates of US$1 = CAD 1.38 and £1 = CAD 1.85, that is CAD 8,280 + CAD 2,000 + CAD 925 = CAD 11,205. No single currency reaches CAD 10,000, but the total does, so you report. If you are unsure whether you are over, report anyway: there is no penalty for reporting.
What happens if you do not report
The memorandum gives officers two powers. They may retain currency until the report is completed; you then have seven days to comply (30 days for mail or courier), after which the money is treated as abandoned to the Crown. Or, where an officer believes the reporting rule was broken, the currency can be seized as forfeit, with terms for its release. If the officer suspects proceeds of crime or terrorist financing, it can be seized with no terms of release.
Section 18 of the Cross-border Currency and Monetary Instruments Reporting Regulations, as amended from July 2024, sets the penalty to recover seized funds as a share of the amount:
| Situation | Penalty |
|---|---|
| Not concealed, full disclosure when discovered, no previous seizure | 5% of the value, capped at CAD 2,500 |
| Concealed (not in a hidden space in a vehicle or aircraft), or a false statement made, or a previous seizure | 25% of the value |
| Concealed in a hidden space in a conveyance, or a previous seizure involving concealment or a false statement | 50% of the value |
In the example above, an unreported CAD 11,205 found in a suitcase, fully disclosed and a first offence, would cost CAD 560.25 to recover. Hidden in clothing with a false answer to the officer, the 25% level would be CAD 2,801.25.
Challenging a seizure
D19-14-1 says you can ask for a review within 90 days of the seizure, online through the CBSA's E-Appeals service or in writing to the Recourse Directorate. After the decision, an appeal to the Federal Court must be filed within 90 days. This is information, not legal advice; speak to a lawyer if a large sum was seized.
Leaving Lagos: the Nigerian side
Nigeria has its own exit rules. CBN foreign exchange guidelines reported in June 2026 allow up to US$10,000 to leave without declaration. Between US$10,000 and US$50,000, the whole amount must be declared at exit. Above US$50,000 you need evidence the money was bought through an authorised dealer. Canada's travel advice for Nigeria also notes that the export of naira is limited by law to certain amounts, without giving a figure, so check before carrying naira notes.
Keep the Nigerian declaration and any bank or bureau receipts with your CBSA report. Together they show where the money came from if your Canadian bank asks when you deposit it; our guide to depositing US dollar cash covers that next step.
On the day: steps
- Add up everything you carry in Canadian dollars before you fly, using a published reference rate.
- Keep the money in your hand luggage and its documents with your passport.
- Declare it at the primary inspection kiosk or to the border officer and ask for form E677.
- Complete the form and keep your copy or reference number.
- Answer questions about the source and purpose plainly.
If several family members are each carrying money, the memorandum does not explain how amounts are combined, so ask the officer and report if in doubt. Do not ask someone else to carry part of your money to stay under the threshold.
Alternatives to carrying cash
Cash is exposed to loss and theft, needs two declarations, and is often converted at a cash rate. A transfer from a Nigerian domiciliary account leaves a clearer record; our guide to moving money from a domiciliary account to Canada covers it, and for the reverse trip see carrying cash from Canada to Nigeria.
Where Pryme fits
If you would rather not carry notes, US dollars or naira in a Pryme account can be moved or swapped between balances when you choose, with the rate shown first and the fee on its own line. See the multicurrency account.
Questions people ask
How much cash can I bring into Canada from Nigeria?
There is no limit, but CAD 10,000 or more in total must be reported to the CBSA on arrival, on form E677.
What is the penalty for not declaring cash in Canada?
Seized currency can be released for 5% of the value (capped at CAD 2,500) on a first, non-concealed case; 25% or 50% applies where money was hidden or a false statement made.
Do I add US dollars and Canadian dollars together for the $10,000 rule?
Yes. The threshold covers the total of all currencies and monetary instruments you carry, converted at the Bank of Canada rate.
How much dollar cash can I take out of Nigeria?
CBN guidelines reported in June 2026 allow up to US$10,000 without declaration; US$10,000 to US$50,000 must be declared; above US$50,000 needs proof it was bought through an authorised dealer.
Sources
- CBSA Memorandum D19-14-1: Cross-border currency and monetary instruments reporting (3 Sep 2024) · accessed Oct 2026
- Justice Laws: Cross-border Currency and Monetary Instruments Reporting Regulations, s.18 (current to 30 Sep 2026) · accessed Oct 2026
- The Nigeria Lawyer: New FX guidelines, CBN allows $10,000 cash without declaration (5 Jun 2026) · accessed Oct 2026
- Government of Canada: Travel advice and advisories, Nigeria (updated 21 Oct 2026) · 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.