In a major relief for customers and businesses, Nigerian banks have resumed international transactions on naira-denominated debit cards after years of suspension due to foreign exchange constraints.

This development marks a significant shift in Nigeria’s financial sector, following improved stability in the foreign exchange market and recent reforms introduced by the Central Bank of Nigeria (CBN) under President Bola Ahmed Tinubu’s administration.

With this change, customers can now use their naira cards to make purchases and payments on international platforms such as Amazon, Netflix, Apple Store, and for other cross-border services. This move is expected to boost e-commerce, digital innovation, and ease of doing business for millions of Nigerians.

Financial analysts view this as a positive signal of growing confidence in the naira and a step toward deeper integration of Nigeria’s banking system into the global financial ecosystem.

Banks have begun notifying their customers via email and SMS, with some setting monthly transaction limits ranging from $500 to $1,000, depending on the bank and account type.

This policy reversal is part of broader efforts by the CBN to ease restrictions on forex access and support a more flexible and market-driven financial environment.