Nigerian banks resume int’l transactions on naira cards

Commercial banks in Nigeria have resumed international transactions on their naira cards, after about three years of suspension.

No fewer than two commercial banks in the country, United Bank of Africa (UBA) and Wema Bank, recently announced the resumption.

The banks, in separate announcements to customers, said the service has recommenced on their naira cards.

UBA said: “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions.

“This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility.

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“If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

Also announcing the development, Wema Bank said customers can now pay in dollars with their naira cards.

“Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” Wema Bank stated.

It would be recalled that commercial banks in Nigeria, between July 2022 and January 2023, suspended international transactions on naira debit cards.

The banks hinged the suspension on the chronic foreign exchange (forex) scarcity, which threatened the survival of key sectors of the economy.

The Star