Moving money out of Nigeria is controlled. The Central Bank sets what you can buy, for what, and through which channel, and it has changed the rules often. These are the rules as reported in 2026; check with your bank before you rely on them.
Travel allowances
A traveller can buy foreign currency each quarter as a:
| Allowance | Each quarter |
|---|---|
| Personal Travel Allowance (PTA) | up to USD 4,000 |
| Business Travel Allowance (BTA) | up to USD 5,000 |
You need your passport, a valid visa where the destination requires one, and a return ticket. Since 1 June 2026, under the CBN’s Foreign Exchange Manual, up to 25% of the allowance can be paid in cash dollars; the rest goes onto a card. Before that, it was card only.
School fees and medical bills
Both are allowed, with documents: an admission letter and invoice from the school, or a letter and estimate from the hospital. Through a bureau de change the reported limits are USD 10,000 a year for school fees and USD 5,000 for medical treatment. Larger tuition payments can go through a bank, paid straight to the institution. Ask your bank what it will process and what it needs.
Your card abroad
Naira debit cards often have tight limits on foreign spending, or none at all. Check before you travel, and do not count on a naira card to pay a hotel. A dollar card from a domiciliary account is more reliable.
Cash at the airport
Carrying more than USD 10,000, or its equivalent, into or out of Nigeria must be declared to Customs. Undeclared cash can be seized. Declare it, and keep the form.
The parallel market
The street rate and the official rate have at times been far apart, and plenty of people change money on the street. It is outside the rules, and the risk of fake notes, short counting and robbery is yours. A licensed bureau de change or a bank is the safe route.