This follows a successive cut in debit card limits on international spending by other Nigerian banks earlier in 2022. The bank communicated this through a mail signed by its Head of Deposits, Debits card and Mortgages. It has therefore called on its customers to seek alternative means to sort out their foreign spending.
The decision to suspend the usage of their debit cards internationally might not be far-fetched from the scarcity of foreign exchange. There had been reports that many banks had, in the first quarter of the year, cut down their monthly international spending limit on Naira cards.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.