Africa
JUST IN: Nigerian Banks Resume Dollar Transactions on Naira Debit Cards

Nigerian commercial banks have quietly resumed allowing international dollar transactions on naira-denominated debit cards, a significant move that signals growing confidence in the country’s foreign exchange (FX) environment.
For more than a year, most banks had suspended the use of naira cards for overseas payments, citing acute dollar shortages and unstable FX supply from the Central Bank of Nigeria (CBN).
This restriction forced many Nigerians to either open domiciliary accounts, source dollars from the parallel market, or use virtual cards for international purchases.
But that landscape is now beginning to shift.
Multiple tier-one and tier-two banks including Guaranty Trust Bank (GTBank), United Bank for Africa (UBA), Wema Bank, Stanbic IBTC, and others have confirmed the reactivation of international spending on their naira cards, albeit with controlled limits.
GTBank was among the first to notify its customers.
In a recent message, the bank announced that customers can now use their GTBank Naira Mastercard for foreign transactions, including online purchases, POS payments abroad, and ATM withdrawals.
The bank set a quarterly cap of $1,000, broken down as follows: up to $500 can be withdrawn from ATMs outside Nigeria, and up to $1,000 can be spent on web and point-of-sale platforms internationally.
“This limit includes all international transactions,” GTBank stated, “including cash withdrawals, online purchases, POS payments outside Nigeria, and related services.”
UBA also announced that it had re-enabled international functionality on its premium-tier naira cards.
The bank said that customers with Gold, Platinum, and World variant cards can now use them for dollar payments on international platforms.
“You can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world,” UBA stated. The service is currently exclusive to the bank’s premium clientele.
Wema Bank has taken a more inclusive approach, confirming that all users with Naira Mastercards can now access international payment services.
In a statement to customers, the bank said:
“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.
The resumption of dollar transactions on naira cards marks a turning point for Nigerian banking customers who have faced mounting challenges in making international payments for everything from tuition to digital subscriptions.
The move also signals a possible easing of FX restrictions by the Central Bank under its ongoing reforms to stabilize the naira and boost confidence in the official currency market.
Analysts believe that the resumed access may be linked to improving dollar liquidity and renewed efforts by banks to regain customer trust after months of severe limitations.
While the resumed access is a welcome development, international spending on naira cards remains tightly controlled.
Limits like GTBank’s $1,000 quarterly cap suggest that banks are still proceeding cautiously, balancing customer needs with underlying FX realities.
Nevertheless, the return of international transaction capabilities even in a limited form is likely to ease pressure on the black market, reduce dependency on third-party dollar services, and restore some normalcy to cross-border financial activities for ordinary Nigerians.
As more banks join the trend, industry watchers will be paying close attention to how sustainable these policy shifts are in the long term.
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