Nigeria Restores Global Payments: Banks Resume International Use of Naira Debit Cards

 

Nigeria’s commercial banks—including UBA, Wema Bank, and GTBank—have officially reinstated international transactions on Naira-denominated debit cards. This move, announced on July 4, 2025, ends nearly three years of restrictions and offers relief to millions of Nigerians seeking to make payments on global platforms like Amazon, Netflix, and AliExpress.

UBA confirmed that all its premium Naira debit cards—Gold, Platinum, and World variants—are now active for international use. Customers can make payments on international websites, withdraw cash from ATMs abroad, and complete point-of-sale (POS) transactions overseas, enhancing the convenience of cross-border spending.

Similarly, Wema Bank declared, “Your Wema Naira Mastercard just went global,” signaling that customers can now shop and pay for subscriptions on services such as Spotify, YouTube, and other popular global merchants using their Naira cards.

GTBank has also resumed international services on its Naira Mastercard, introducing a quarterly spending cap of $1,000, which includes ATM withdrawals (limited to a maximum of $500 abroad). However, reports indicate that some premium customers enjoy higher limits of up to $4,000 per quarter, reflecting a more flexible approach for high-value transactions.

The resumption of these services is driven by improved foreign exchange (FX) liquidity in Nigeria’s economy. Analysts note that narrowing spreads between the official and parallel exchange rates have reduced speculative currency costs, while increased diaspora remittances, rising oil prices, and renewed confidence in Nigeria’s FX management have contributed to a more stable financial environment.

For Nigerian consumers and businesses, this shift is transformative. International payments are now more accessible without the need for virtual dollar cards or domiciliary accounts, allowing users to track expenses easily thanks to transparent spending caps and direct FX debits from Naira accounts.

This move by UBA, Wema Bank, GTBank, and other top-tier banks signals a broader normalization of cross-border transactions in Nigeria’s banking sector. As more financial institutions follow suit, experts anticipate further expansions of international Naira card services, though likely with controlled spending limits to protect liquidity and maintain economic stability.

Nigerian banks have officially reactivated international transactions on Naira debit cards, ushering in renewed global spending power for consumers and signaling growing confidence in the country’s financial and currency markets.