Nigerian banks have resumed international transactions on Naira cards after a three-year suspension.
The reason for the resumption stems from improved liquidity in the foreign exchange market, reduced arbitrage opportunities, and a more stable Naira.
With this development, Nigerians can now use their Naira cards for international transactions, including online shopping, POS transactions, and ATM withdrawals abroad.
This move is expected to enhance customer convenience and reduce friction in cross-border payments.
Meanwhile, some commercial banks that have begun the process include Guaranty Trust Bank (GTB) and United Bank for Africa (UBA).
