What the lifting of suspension on Naira Cards transaction means to you

By Joseph Ibrahim

It appears that things are beginning to ease after almost a year that Nigerians couldn’t use their Naira Cards to perform international transactions.

On Friday, Wema Bank, one of Nigeria’s leading commercial banks, announced the lifting of the suspension on international transactions using the Naira Cards.

At the time banks placed embargo on the use of Naira Cards for international transactions, basic stuff like renewal of subscriptions, payment for services or products abroad were abruptly ended.

The reason for the decision to suspend international transactions on Naira Cards, was blamed on shortage on Foreign Exchange.

But today, Wema bank lifted the suspension. It is expected that more banks will follow in that direction.

In a letter addressed to its customers , the bank declared the end of the suspension on international transactions conducted through naira cards, bit placed a cap on $500 a month.

What this means for you

The lifting of the ban brings an array of benefits to customers. For starters, it enables them to make international purchases, shop at online stores all over the world, and purchase from their favourite international brands.

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