Victor EzejaNigerian banks have resumed international transactions on naira-denominated debit cards after a nearly three-year suspension due to foreign exchange pressures.
This marks a significant development in banking operations, especially for clients who depend on foreign payments.
Join our WhatsApp ChannelIn separate messages to their clients, United Bank for Africa (UBA), Guaranty Trust Bank (GTBank) Wema Bank. Stanbic IBTC and others notified their customers that international payment capabilities on their Naira cards would once again be available.
UBA informed its clients that the reactivation of foreign transactions on its premium naira cards is consistent with its mission to provide better and more seamless 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,” UBA stated.
“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.”
READ ALSO: Five Best-Performing Banks In Nigeria – By Deposit Growth In Q1 2025
The bank urged its customers who have not used their UBA cards in recent times to do so to enjoy the “convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
On its part, GTBank said its Naira card now has a quarterly international spending limit of $1,000 and enables customers to pay for their favourite items anywhere in the world.
“This limit includes up to $500 for ATM withdrawals abroad and up to $1,000 for online and POS transactions. Please note that the $1,000 quarterly cap applies to all international transactions, including cash withdrawals, online purchases, POS payments outside Nigeria, and other related services,” GTBank further stated.
The development is a huge relief for Nigerian consumers who had to use dollar cards or other payment methods because most banks stopped allowing naira cards to be used internationally in 2021 because of a lack of foreign exchange.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
