Lagos, Nigeria – July 4, 2025
Nigerian banks have officially resumed international transactions on naira-denominated debit cards, marking a significant development after years of suspension due to foreign exchange volatility and dollar scarcity.
The resumption allows bank customers to make payments for goods and services on international platforms such as Netflix, Amazon, and Apple, as well as process foreign subscriptions and bookings directly from their naira accounts.
Several banks, including GTBank, Zenith, and Access Bank, confirmed the move via customer notifications, stating that eligible accounts will now have access to international spending limits on their naira cards, though subject to individual bank policies and prevailing exchange rates.
The Central Bank of Nigeria (CBN) had initially restricted international usage of naira cards in 2022 amid growing pressure on the foreign reserves and a widening gap in exchange rates. The new development reflects growing confidence in Nigeria’s monetary reforms and improved foreign exchange liquidity.
Industry analysts say the move is expected to boost customer convenience, ease of business, and digital commerce, particularly for small businesses and freelancers who rely on global platforms.
The resumption is also viewed as part of broader financial sector reforms under the Tinubu administration aimed at stabilizing the naira and restoring investor confidence in the Nigerian economy.
