Two Nigerian business banks have ended a five-year embargo on worldwide transactions on their naira playing cards.
The event comes barely 5 years after a number of business banks suspended worldwide transactions on naira debit playing cards.
In separate bulletins to prospects on Friday, July 4, 2025, Wema Financial institution and United Financial institution for Africa (UBA) said that the service has been reactivated on their naira playing cards.
Within the UBA announcement, the financial institution said that the resumption aligns with its continued dedication to offering shoppers with seamless and enhanced banking experiences.
“Consistent with our continued dedication to offering you with seamless and enhanced banking experiences, we’re happy to tell you that each one UBA Premium Naira Playing cards, together with Gold, Platinum, and World variants at the moment are enabled for worldwide transactions,” the assertion partly learn.
“This implies now you can use your Premium Naira Card for on a regular basis funds, on-line buying, POS, and ATM transactions the world over, with extra ease and adaptability.
“Should you haven’t used your card not too long ago, now’s a good time to rediscover the comfort and status that comes with being a UBA premium cardholder.”
Equally, Wema Financial institution knowledgeable its prospects that they will now “pay in {dollars}” with their naira playing cards.
“Your Wema Naira Mastercard simply went international! Now you may pay in {dollars} on all of your favorite worldwide platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the financial institution stated.
Between July 2022 and January 2023, a number of different banks additionally positioned a brief suspension on worldwide transactions on ATMs and POS channels because of the crunching results of power FX shortage.
The pattern started with Normal Chartered Financial institution, which suspended worldwide transactions on its Naira Visa Debit card in July.
This was adopted by First Financial institution of Nigeria (FBN), which introduced on September 21, 2022, that worldwide transactions on its Naira Mastercard had been suspended.
Three months later, Warranty Belief Financial institution (GTBank) halted international funds in naira, whereas Zenith Financial institution adopted go well with on January 9, 2023.
Flutterwave, Eversend, and different monetary expertise platforms later joined the fray, suspending their digital card providers for worldwide transactions.
