UBA and Wema Bank have reactivated international transactions on naira cards, citing improved FX liquidity and regulatory reforms.
Two commercial banks in Nigeria — United Bank for Africa (UBA) and Wema Bank — have announced the resumption of international transactions on their naira cards, nearly three years after the service was suspended.
UBA informed customers that all Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international use. “You can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world,” the bank said.
Wema Bank also confirmed the move, stating: “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms.”
The development follows improved foreign exchange (FX) liquidity and narrowing margins between official and parallel market rates. Experts say strengthened FX management, increased diaspora remittances, and a stable naira also influenced the decision.
Several Nigerian banks suspended global use of naira cards between 2022 and 2023 due to FX scarcity, with fintechs like Flutterwave and Eversend also halting virtual card services.