Wema Bank has announced the removal of its suspension on international transactions conducted through naira cards.
In a letter addressed to its customers, the bank officially declared an end to the temporary halt on such transactions.
With this development, customers holding Wema Bank Mastercards can now use their naira debit cards to make payments for transactions conducted in foreign currencies.
The move comes as a relief to individuals who rely on their naira cards for international purchases and transactions.
Back in March 2022, Wema Bank, in line with other Nigerian banks, implemented restrictions on monthly international spending limits for naira cards, reducing them from $100 to either $20 or $50.
Subsequently, in the same year, the bank announced that naira cards would no longer be valid for international transactions, citing market realities in foreign exchange as the reason behind the decision.
Wema Bank has now lifted the ban international payments with naira cards.
The bank had also imposed a monthly limit of $500 for international spending conducted through their naira cards.
The letter reads: “You can now use your Naira cards, including Mastercard, ALAT Mastercard, and Visa, for international spending. For your international transactions, you can enjoy up to $500 per month.”