July 18, 2024

Naija commercial bank announce limit for international transactions.


Over the past month, Nigeria commercial banks don make announcement about di limit wey dem don put for international transactions. Dem don reduce am to $20 per month if person dey use Naira debit card.

E mean say Nigerians no go fit  use their naira debit cards do any international transactions more than $20 in a month. Na di scarcity of foreign exchange na hin cause this one as e continue to bite Africa largest economy and biggest oil exporter, Nigeria, despite the recent surge in global energy prices.

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The United Bank of Africa (UBA), for February first take di decision when e notify customers of di  $20 as di new limit. According to the statement, “In line with our promise to keep una updated on services, we don reviewed Naira Card limits for international transactions, and this go take effect  from 1st of March, 2022.”

Technology companies and Nigerians wey dey deal with dollars for dia business don chose another thing, some financial companies don partner with foreign companies so that dem go fit provide virtual dollar cards, but e go be for black market rate.

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