Nigerian banks UBA, Wema, and GTB have resumed international transactions on their naira debit cards, marking a welcomed return of global payment options for customers.
This change, announced in separate communications, takes place about three years after many banks suspended the service.
In a notice to its customers, United Bank for Africa (UBA) explained that its full line of Premium Naira Cards—Gold, Platinum, and World are now active for worldwide transactions.
“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 statement reads.
Moreover, Wema Bank confirmed that naira Mastercard users can now make dollar payments on major international platforms.
“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 said.
Meanwhile, Guaranty Trust Bank (GTB) has set clear quarterly limits for its cardholders: a total of \$1,000 for global purchases, and \$500 for ATM withdrawals abroad.
“You now have a quarterly limit of \$1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” GTB informed users.
“Withdrawals at ATMs Abroad: \$500 quarterly. Online and POS Transactions: \$1,000 quarterly.”
This move restores convenience for naira card users worldwide, especially after foreign currency restrictions implemented in mid-2022 made overseas spending impossible on these cards.
At the time, key players like First Bank of Nigeria, Zenith Bank, Standard Chartered, and fintech platforms like Flutterwave also suspended similar services in response to extreme FX scarcity.
Economic experts say the return of global payment access reflects improving foreign exchange liquidity in Nigeria.
Ayokunle Olubunmi from Agusto & Co explained,
“The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision.”
Furthermore, the move by these banks signals a broader financial opening.
Nigerians can now resume online shopping, foreign travel payments, and access global entertainment services using their local naira cards once again.
Moreover, this reopening could boost digital commerce and enhance consumer trust in naira-based financial products.
Meanwhile, customers are encouraged to check their fees and terms before using their cards abroad.
