May 29, 2022

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BANKS SUSPEND THE USE OF NAIRA DEBIT AND CREDIT CARDS FOR INTERNATIONAL TRANSACTION

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BANKS SUSPEND THE USE OF NAIRA DEBIT AND CREDIT CARDS FOR INTERNATIONAL TRANSACTION



Banks has suspended the use of Naira debit and credit cards for international transaction. The banl I use mail this morning concerning this. Part of the mail read thus:

“Dear Valued Customer,

 Thank you for your continued business.

 On account of current market conditions, please note that with effect from 18 October, 2016, you will not be able to use your Naira debit and credit cards for international transactions.

 If you wish to carry out card transactions priced in foreign currencies from that date, you can request for a USD card (debit or prepaid) from any of our branches.

 We apologize for any inconvenience that may be caused by this decision. We trust that our USD card product will allow you to continue to pay for goods and services that are priced in foreign currencies.

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 To ensure unhindered access to your USD debit or prepaid card while abroad, kindly notify us of your impending trip(s), preferably before you leave Nigeria.”

Other banks might have also cancelled the use of Naira debit and credit cards for international transactions. Customers of other banks have also confirmed this. However, there is no information concerning this from the apex bank.

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