Nigerian Banks Resume International Transactions on Naira Cards

Several Nigerian commercial banks have reinstated international transactions on Naira cards, nearly three years after suspending the service due to foreign exchange (FX) pressures and dollar liquidity shortages.

Why Were Naira Cards Restricted for Global Payments?

Between 2022 and 2023, leading Tier-1 banks—including GTBank, UBA, Access Bank, First Bank, Zenith Bank, and Ecobank paused international transactions on Naira-denominated cards. The decision followed rising FX demands during Nigeria’s 2023 elections, which triggered a severe scarcity of U.S. dollars and put immense pressure on the Naira.

As a result, many Nigerians were unable to pay for services like Netflix, Twitter Premium, Apple subscriptions, or Amazon, leading to inconvenience and loss of access to global platforms.

Banks Now Allow Global Payments But with Spending Limits

GTBank’s Update

GTBank informed its customers via email that its Naira Mastercard can now be used internationally, with a quarterly limit of $1,000 for online payments, ATM withdrawals, and POS transactions. Notably, ATM withdrawals abroad are limited to $500 within the same period.

However, some customers received higher limits. Former presidential aide Bashir Ahmad posted on X (formerly Twitter) that he received a $4,000 quarterly limit, suggesting customer-specific thresholds.

GTBank has not publicly clarified the criteria for these differences, though they may be based on account types, transaction history, or customer risk profiling.

UBA and Wema Bank Follow Suit

UBA has also resumed international usage for its Premium Naira Cards—including Gold, Platinum, and World cards. According to the bank, customers can now make global purchases via online platforms, POS, or ATMs.

Wema Bank also made a similar announcement:

“Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms—Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”

What This Means for Nigerian Consumers

This shift brings much-needed relief to Nigerian customers, who previously relied on virtual dollar cards or domiciliary accounts for international payments. The return of Naira card international transactions could:

• Restore access to global services
• Reduce reliance on third-party payment apps
• Simplify subscriptions and purchases abroad
• Improve customer convenience

More Banks Expected to Reactivate Global Access

As GTBank, UBA, and Wema Bank lead the charge, other financial institutions are likely to follow suit to stay competitive. The reinstatement reflects easing FX conditions and a more flexible approach by banks to meet customer demands in a digitally connected economy.