UBA and Wema Bank have resumed dollar transaction on Naira cards.
NaijaOnPoint Nigeria reports that two Nigerian commercial banks, United Bank for Africa (UBA) and Wema Bank, have resumed international transactions on their naira cards.
This allows customers to make payments in foreign currencies.
This change comes three years after several banks in the country suspended the service due to a serious shortage of foreign exchange.
At that time, international card usage was halted on both ATM and point-of-sale platforms, affecting users who relied on naira cards for global payments.
UBA informed its customers that they can now use their premium naira cards, including Gold, Platinum, and World cards, to pay for goods and services abroad, both online and in physical stores.
Wema Bank also confirmed that its naira Mastercard now works on global platforms such as Amazon, Netflix, and Spotify.
Experts in the financial sector say the move is connected to recent improvements in Nigeria’s foreign exchange market.