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.
More Stories
Again, Dangote accuses NMDPRA of allowing substandard PMS import, claims its N990 per litre price highly competitive
Oando Plc posts N60.27 billion profit-after-tax in FY 2023
We have not received any payments from IPMAN, says Dangote Refinery