Nigerian Banks Bring Back Dollar Payments on Naira Cards

After nearly three years, major Nigerian banks have reopened international payment options on Naira-denominated debit cards—marking a big change for customers and businesses alike.

The move allows customers to once again make purchases and subscriptions on global platforms like Amazon, Netflix, and Apple, without needing virtual dollar cards or domiciliary accounts. This shift is especially meaningful for everyday users who were locked out of international services during the suspension.

Why Were International Payments Blocked?

From 2022 through much of 2023, banks like GTBank, UBA, Access Bank, First Bank, Zenith, and Ecobank suspended international transactions on Naira cards. The primary reason? Severe foreign exchange (FX) pressures and a shortage of U.S. dollars.

In the months leading up to Nigeria’s 2023 general elections, the demand for dollars spiked—draining dollar reserves and forcing banks to limit outflows. As a result, many Nigerians were unable to pay for services such as Twitter Premium, Spotify, iCloud storage, and online shopping from international platforms. This not only frustrated consumers but also disrupted payments to global businesses relying on Nigerian subscribers.

Naira Cards Go Global Again—But with Limits

Banks have reintroduced international transactions with quarterly spending limits that vary across customers and account types.

GTBank, for instance, informed customers that its Naira Mastercard can now be used internationally, with a $1,000 quarterly cap. This includes online purchases, point-of-sale (POS) payments abroad, and ATM withdrawals—with the latter limited to $500 every quarter.

Interestingly, some users report higher spending limits. Bashir Ahmad, a former presidential aide, shared on social media that GTBank gave him a $4,000 international limit. The bank hasn’t clarified why limits differ, but it’s likely tied to individual account profiles or transaction histories.

UBA has also resumed cross-border transactions for its Premium Naira Cards, including Gold, Platinum, and World variants. In a notice to customers, the bank highlighted that users can now shop online and use their cards abroad with greater ease.

Wema Bank followed suit with a similar announcement: “Your Wema Naira Mastercard just went global!” Customers can now make dollar payments directly on platforms like AliExpress, eBay, and YouTube.

A Win for Customers and Global Brands

This development restores a level of financial freedom for Nigerians and could help recover some of the revenue lost by global service providers during the ban. Before now, many customers relied on workaround solutions like virtual dollar cards or peer-to-peer exchanges just to complete simple transactions online.

With more banks expected to re-enable global access on Naira cards, the trend signals growing stability in Nigeria’s foreign exchange environment—and a more customer-friendly banking landscape.

In a country where tech-savvy youth drive much of the digital economy, this move is a timely and welcome step forward.