June 19, 2024

Forex Scarcity: Banks don Suspend International Transactions for Naira Debit Cards


Nigerian no go fit use their Naira debit cards for international transactions because scarcity of foreign exchange (forex) don worse for Africa biggest economy.

Some banks don already give their customers notice about the latest tori. Dem gather say others still dey watch as everything dey be  before dem implement the policy of the scarcity of forex.

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This one come after some months wey bank wey dey Naija reduce the monthly international spending limit for Naira cards to $20. The daily international withdrawal limit don dey around $100 for plenty of the banks until March when banks cut international spending.

For 2020, Banks bin don stop to dey use naira cards for ATM foreign currency withdrawals as dem dey review the monthly international spending with naira cards from $500 to $300 and now na $100 e be.

You fit CLICK HERE go read the full tori.

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