CBN releases FX guidelines, approves export of $50,000

By Emma UjahThe Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can export $50,000 cash.The only condition according to the Guidelines released yesterday is that such cash must be declared at the point of exit.The bank also retained the earlier provision for the export or import of cash of up to $ 10,000 without having to declare it.According to the document, “The following may be exported from Nigeria: Without declaration, fore