In a major update for Nigerian consumers, several commercial banks have officially resumed international transactions on naira-denominated debit cards. After nearly three years of suspension due to foreign exchange (FX) challenges, United Bank for Africa (UBA), Wema Bank, and GTBank have announced the restoration of global payment capabilities on their naira cards.
UBA Leads the Comeback with Premium Naira Cards
UBA informed its customers that international transactions are now active on all UBA Premium Naira Cards—Gold, Platinum, and World variants.
“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 are now enabled for international transactions,” the bank stated.
The bank emphasized that customers can now use their cards for online purchases, POS payments, and ATM withdrawals across global platforms—bringing back convenience and flexibility to cross-border spending.
Wema Bank Follows Suit
Wema Bank also shared the news with its users, celebrating the global upgrade of its naira Mastercard.
“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 announced.
The Backstory: FX Scarcity and Restrictions
Between July 2022 and January 2023, many Nigerian banks halted international card usage due to the country’s severe FX shortages. This move impacted sectors ranging from e-commerce to education, as users struggled with cross-border payments.
The current resumption of services signals improving conditions in the FX market and could mark a turning point in the accessibility of global financial tools for Nigerian account holders.
There are news of other banks still following suit as we write this post..
Discover more from Naija Gist Online
Subscribe to get the latest posts sent to your email.
