President Bola Ahmed Tinubu has declared that the Naira Card can now be used for payments and transactions across the world.
The announcement signals what he described as renewed global confidence in Nigeria’s currency. Moreover, it marks a major shift from years of heavy reliance on foreign currencies for international spending.
Speaking in Abuja during the 9th Annual Ramadan Lecture organised by the Ashraaf Islamic Foundation, Tinubu linked the development to his administration’s economic reforms.
The event focused on Faith and Justice: The Islamic Judicial Perspective on Terrorism and Banditry in Nigeria.
Represented by the Minister of State for Health, Dr Iziaq Adekunle Salako, the president said the Naira Card global payments milestone reflects improving stability in the financial system.
According to him, Nigerians can now travel abroad and rely on their Naira Card without carrying dollars, euros or pounds. Therefore, dependence on foreign exchange for basic transactions is gradually being reduced.
He explained that recent reforms are beginning to show results. Interest rates have been adjusted downward by the Central Bank of Nigeria. In addition, inflation figures are said to be improving steadily.
Tinubu noted that food inflation has declined over the past year. Meanwhile, headline inflation has also shown signs of easing in recent months.
The president admitted that the reforms came with hardship at the beginning. However, he described the difficult decisions as necessary steps to fix deep-rooted economic challenges.
He stressed that stability in the naira and better management of external reserves have strengthened confidence. Consequently, the Naira Card global payments initiative is now possible.
Beyond the economy, Tinubu addressed national security concerns. He reassured Nigerians that efforts to defeat terrorism and banditry remain ongoing.
He praised religious and traditional leaders for their support and prayers. Moreover, he emphasized that unity is essential for lasting peace.
