Nigerians can now heave a sigh of relief after two commercial banks resumed international transactions on naira cards after a three-year suspension.
United Bank of Africa (UBA) and Wema Bank, in separate announcements, confirmed on Friday that international transactions on naira debit cards have commenced immediately.
In its statement, UBA maintained that the resumption is in line with its continued commitment to providing clients with seamless and enhanced banking experiences.
“In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the statement reads.
“This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility.
“If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA Premium cardholder,” the statement reads.
In a statement issued on Friday, Wema Bank encouraged its numerous customers to “pay in dollars” with their naira cards.
“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 bank said.
Ayokunle Olubunmi, Head of Financial Institution Ratings at Agusto & Co, stated that the improved liquidity in the foreign exchange (FX) market has encouraged banks to reactivate their naira cards for global transactions.
