First Bank of Nigeria has suspended the usage of the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira card for international transactions due to the increasing scarcity of foreign exchange in Nigeria.
The bank disclosed this in an email sent to customers titled “Review of cross-border limit on Naira Card.”
The bank also noted that foreign transactions can only be made with dollar cards with a $10,000 maximum.
The Bank stated, “Due to current market realities on foreign exchange, you will no longer be able to use the Naira Mastercard, Naira Credit Card, our Virtual card and Visa Prepaid Naira card for international transactions. This will take effect on 30 September 2022.”
“Please use your Visa Debit Multicurrency Card, Visa Prepaid (USD) Card and Visa Gold Credit Card to continue transacting abroad with limits of up to $10,000″, the bank added.