Nigerian banks have resumed international transactions on Naira cards after three years suspension.
The resumption of Naira card services is attributed to improved liquidity in the foreign exchange market, reduced arbitrage opportunities, and increased stability of the Naira.
As a result, Nigerians can once again use their Naira cards for international transactions such as online purchases, POS payments, and ATM withdrawals overseas.
This move is anticipated to boost customer convenience and ease cross-border transactions by minimizing payment barriers.
In the meantime, commercial banks such as Guaranty Trust Bank (GTB) and United Bank for Africa (UBA) have already begun reactivating international transaction capabilities on Naira cards.
