The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to configure their Automated Teller Machines (ATMs), Point-of-Sale (POS) terminals, and digital payment platforms to accept foreign-issued payment cards. The directive is aimed at improving access to financial services, enhancing payment convenience, and supporting international card usage across Nigeria.

In a circular issued to financial institutions, the apex bank stated that all payment terminals must comply with international card-scheme standards and be properly certified to ensure seamless and secure transactions. The CBN also mandated banks to strengthen security measures, including multi-factor authentication for certain foreign card transactions, to safeguard users and prevent fraud.

The CBN further instructed banks to ensure transparency by clearly disclosing applicable exchange rates and charges to customers before transactions are completed. Financial institutions are also required to maintain adequate liquidity for settlements, promptly resolve customer complaints, and comply with existing know-your-customer and anti-money-laundering regulations, warning that sanctions will apply for non-compliance.