Nigerian banks resume international transactions on Naira debit cards after three-year suspension

After nearly three years, Nigerian commercial banks have reactivated international transaction functionality on Naira debit cards—allowing customers to once again make payments abroad via POS, ATMs, and online platforms.

United Bank for Africa (UBA) announced that all Premium Naira Cards—including Gold, Platinum, and World variants—can now be used globally. In a statement, UBA encouraged users to rediscover the convenience of international shopping and withdrawals.

Similarly, Wema Bank confirmed its Naira Mastercard supports foreign transactions, enabling payments on platforms like Amazon, Netflix, Spotify, and eBay.

This move reverses a freeze imposed between mid-2022 and early 2023, during which banks like GTBank, First Bank, and Zenith halted cross-border Naira card usage due to acute foreign exchange shortages.

Why now?

Experts point to a resurgence in foreign exchange liquidity, driven by improved dollar inflows, oil price gains, and CBN reforms. According to Agusto & Co analyst Ayokunle Olubunmi, eased parallel market premiums and reduced arbitrage were key to restoring confidence.

A report from The Nation noted FX inflows reached nearly US $6 billion monthly from May 2025—thanks to increased remittances and policy changes—creating a sustainable environment for international spending.