Nigerian Banks resume International Transactions on Naira Cards

Commercial banks in Nigeria have announced the resumption of international transactions on their naira cards.

After years of suspension, United Bank of Africa (UBA), Wema Bank, and GTBank said in separate announcements to customers that the service has recommenced on their naira cards.

“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,” UBA told its customers.

In the recent notice to customers, UBA stated that the resumption aligns with its continued commitment to providing clients with seamless and enhanced banking experiences.

The development comes about three years after many banks suspended international transactions on naira debit cards.

“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,” UBA added.

Wema Bank also announced the development in a statement, saying, “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 said.

Between July 2022 and January 2023, several other banks temporarily suspended international transactions on ATMs and POS channels.

The shift was a result of the chronic FX scarcity, which threatened the survival of key sectors of the economy