NCAA Reminds Airlines to Make Passengers Declare Currencies Above $10,000
The Nigerian Civil Aviation Authority (NCAA) just sent out a fresh reminder to all airlines operating in the country.
The message is to ensure that all inbound passengers declare any foreign currency they’re carrying that exceeds $10,000. So, if you’re traveling with more than this amount, the NCAA expects airlines to enforce the rule that you should declare it before you’re allowed to fly.
In the statement released, the NCAA mentioned that airlines are to “make in-flight or pre-landing announcements informing passengers of their legal obligation to declare any currency or Bearer Negotiable Instruments (BNI) exceeding $10,000 or its equivalent upon arrival in Nigeria”.
This rule isn’t a new one in the Nigerian aviation space. Nigeria has always required travelers to declare large sums of foreign currency. But for the longest time, it has been loosely enforced or completely overlooked. As a result, the NCAA is enforcing this on airlines now to ensure that the rule isn’t just there for show.
Why Did the NCAA Make This Rule?
The NCAA explained that it was in line with Nigeria’s ongoing efforts to strengthen its Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework, in accordance with international standards and obligations.
The directive wants airlines to inform passengers about this requirement before departure, hand out declaration forms, and ensure they’re filled. It’s all part of an effort to clamp down on things like money laundering and illicit cash movements in and out of the country.
As the country continues to engage with global financial regulatory bodies and strives to improve its image in international finance and commerce, this kind of strict enforcement of financial disclosure laws is seen as a necessary step.
According to the NCAA, airlines must ensure that all passengers are well informed about this requirement and are given the necessary forms to fill before departure.
The goal is to avoid cases where passengers are caught unaware or penalized for non-disclosure.
NCAA Warns Airlines To Comply
Despite efforts to make airlines comply, reports reveal that some airlines are yet to implement this directive.
According to the Director of Public Affairs and Consumer Protection, Michael Achimugu of NCAA, “the cooperation of all international airlines operating in Nigeria is critical to supporting the country’s efforts to align with global financial standards. Accordingly, the Authority emphasises that full implementation of this directive, particularly as it concerns inbound passenger declarations, is of utmost importance”.
He further mentioned that “Compliance will be closely monitored, and non-compliant airlines will face appropriate sanctions”.
While some may see it as an added layer of responsibility, this is actually a commendable step towards maintaining transparency and reducing money laundering.
However, rules are only as good as their execution. If the NCAA wants this directive to make a difference, it can’t stop at instructing airlines.
Customs, immigration, EFCC, and other airport officials must be on the same page, acting fairly, not intimidating travelers, and ensuring the process is smooth and safe for everyone involved. So, the next time you’re headed to the airport, remember that the game has changed and the rules are now being taken seriously.
If you enjoyed this article, click here to read more informative posts, also check us out on Instagram for fun and engaging content.
Disclaimer: The opinions, views, and information expressed in this article are those of the author and do not necessarily reflect the official policy, position, or views of iNaijanow. The company assumes no liability for any errors, omissions, or damages arising from the use of this information.
