This post was originally published on this site.
Nigerian banks are increasing international spending limits on naira debit cards as foreign exchange liquidity improvesCBN reforms, including stronger diaspora remittances and higher foreign investments, have boosted dollar availability in the banking sectorBanks, including GTBank, UBA, Wema Bank, and First Bank, have restored or expanded international transaction services
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Nigerian banks are increasingly restoring and expanding international spending limits on naira debit cards, reflecting improved foreign exchange (FX) liquidity and growing confidence in the country’s financial system.
The shift marks a major reversal from recent years, when severe dollar shortages forced lenders to suspend or significantly restrict overseas transactions on naira cards.
GTBank, UBA, FirstBank, Others Raise Dollar Spending Limits on Naira Cards as FX Crisis EasesSource: UGC
According to Daily Trust, the development is being driven by stronger FX inflows, reforms in the foreign exchange market, and
