Regulatory Alerts2025-04-01
BCEAO Instruction 002-03-2025 Setting the Threshold for Intra-Community Physical Transport Declarations of Cash and Bearer Negotiable Instruments
The Governor of the Central Bank of West African States (BCEAO) has issued Instruction No. 002-03-2025 to establish a ten million (10,000,000) CFA franc threshold for mandatory intra-community physical transport declarations of cash and bearer negotiable instruments. Any individual entering or leaving a UMOA member state with amounts meeting or exceeding this threshold must declare them to the Customs Administration at the point of entry or exit. Non-compliance with this declaration requirement subjects the relevant persons to sanctions under the UMOA Uniform Act on combating money laundering, terrorist financing, and proliferation of weapons of mass destruction.
1 BCEAO BANQUE CENTRALE DES ETATS OF WEST AFRICA The Governor INSTRUCTION NO. 002-03-2025 SETTING THE THRESHOLD FOR THE DECLARATION OF INTRA-COMMUNITY PHYSICAL TRANSPORTS OF CASH AND BEARER NEGOTIABLE INSTRUMENTS
The Governor of the Central Bank of West African States (BCEAO), Having regard to the Treaty of the West African Monetary Union (UMOA) of 20 January 2007, particularly Article 34 thereof; Having regard to the Statutes of the Central Bank of West African States (BCEAO) annexed to the UMOA Treaty of 20 January 2007, particularly Articles 30 and 59 thereof; Having regard to the Uniform Act on combating money laundering, terrorist financing and proliferation of weapons of mass destruction in the Member States, particularly Article 71 thereof; DECIDES:
Article 1: Threshold for declaration at the entry or exit point of the territory The threshold from which any person, coming from a Member State of the Union entering another Member State's territory or leaving it for another Member State, is required to make, upon entry or exit, a declaration of physical transport of cash and bearer negotiable instruments to the Customs Administration at the territory's entry or exit point, is hereby set at ten million (10,000,000) CFA francs.
Article 2: Applicable sanctions Any person who contravenes the provisions of this Instruction is subject to the sanctions provided for by the Uniform Act on combating money laundering, terrorist financing and proliferation of weapons of mass destruction in the Member States of UMOA.
Article 3: Final provision This Instruction shall enter into force on the date of its signature and shall be published wherever necessary.
Avenue Abdoulaye Fadiga P.O. Box 3108 - Dakar - Senegal 18 MARCH 2025 Tel. (221) 33 839 05 00 / Fax. (221) 33 823 93 35 courrier.bceao@bceao.int - www.bceao.int
Done at Dakar, I Jean-Claude Kassi Brou