Nigerian banks resume international transactions on naira cards after years of suspension
Bank cards
Abdullateef Fowewe
In a significant boost to Nigeria’s financial sector and international commerce, Nigerian banks have officially resumed international transactions on naira cards after a prolonged suspension lasting several years.
This move is expected to enhance the ease of cross-border payments for Nigerian consumers and businesses alike.
The suspension, which began in the early 2020s, had restricted the use of naira-denominated cards for international purchases and withdrawals, forcing many Nigerians to rely on foreign currency cards or alternative payment methods.
In different announcements to customers, United Bank of Africa (UBA) and Wema Bank confirmed the recommencement of the service on their naira cards.
In a recent memo to customers, the UBA said the resumption aligns with its continued commitment to providing clients with seamless and enhanced banking experiences.
“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.
“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,” the statement reads.
Also announcing the development in a recent statement, 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,” the bank stated.
