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The Central Bank of Nigeria (CBN) has unveiled the fourth edition of its Foreign Exchange Manual, introducing updated rules and compliance measures aimed at improving transparency, strengthening regulatory oversight, and enhancing efficiency in Nigeria’s foreign exchange market.
Issued by the apex bank’s Trade and Exchange Department, the 2026 manual outlines procedures and documentation requirements for foreign exchange transactions while reinforcing safeguards for the country’s external reserves.
CBN Unveils New Forex Rules: 7 Major Changes Nigerians Must Know in 2026Source: UGC
Below are seven major takeaways from the revised guidelines as compiled by TheCable.
1. $10,000 Remains Cash Declaration Threshold
The CBN retained the existing limit for carrying foreign currency across Nigeria’s borders. Travellers can bring in or take out up to $10,000, or its equivalent in other currencies, without making a declaration.
However, any amount exceeding that threshold must be declared at entry using Form TM or at exit through Form TE.
The manual also allows outbound
