Several Nigerian commercial banks have resumed international transactions on Naira-denominated debit cards, nearly three years after suspending the service due to foreign exchange pressures and dollar scarcity.
Guaranty Trust Bank (GTBank), United Bank for Africa (UBA), and Wema Bank are among the first to reactivate global usage of their Naira cards, allowing customers to make payments on international platforms once again.
The suspension, which began between 2022 and 2023, had affected access to services like Apple subscriptions, Twitter Premium, and other global payment platforms.
In an email sent Friday, GTBank informed customers of a $1,000 quarterly spending limit on its Naira Mastercard for international transactions, including online purchases, POS payments, and ATM withdrawals abroad (capped at $500 quarterly).
However, some users reported higher limits, with former presidential aide Bashir Ahmad stating he received a $4,000 cap. The bank has not clarified the basis for the varying limits, which may relate to customer profiles or account types.
UBA confirmed the resumption of global access on its Premium Naira Cards (Gold, Platinum, and World), while Wema Bank announced that customers can now use their Naira Mastercard for payments on platforms such as Amazon, Netflix, and Spotify.
The policy shift comes amid easing FX pressures and is expected to enhance convenience for retail banking customers. It also reduces the reliance on virtual dollar cards and domiciliary accounts for international payments.
