Three leading commercial banks in Nigeria — United Bank for Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) — have officially resumed international transactions on their naira debit cards, marking a significant shift in foreign exchange accessibility for Nigerian customers.
The move comes nearly three years after many Nigerian banks halted dollar-denominated transactions on naira cards due to forex supply constraints and regulatory adjustments.
In separate notices to customers, the banks announced the reactivation of dollar payments for online shopping, point-of-sale (POS) purchases, ATM withdrawals abroad, and subscriptions on global platforms.
UBA stated that the reactivation covers its premium naira cardholders, including Gold, Platinum, and World variants. “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,” the bank noted, emphasizing its commitment to seamless banking experiences.
Wema Bank also informed customers that their naira Mastercard now works globally. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube,” the bank announced in a customer update.
GTBank, meanwhile, placed a cap on usage, stating that customers can now spend up to $1,000 per quarter on international transactions using their naira cards. This includes a $500 quarterly limit for ATM withdrawals abroad and a $1,000 cap for online and POS transactions combined.
The reactivation of international payment services on naira cards is a welcome development for consumers and businesses alike, especially those engaging in frequent cross-border transactions or international e-commerce.
This development marks a significant reversal after nearly three years of restrictions prompted by FX shortages and macroeconomic instability.
