Banking

First Bank suspends dollar transactions on naira debit cards

First Bank of Nigeria has suspended international transactions using the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira card due to the increasing scarcity of foreign exchange in Nigeria.

This was revealed in an email sent to customers that Nairametrics obtained titled “Review of Naira Card cross-border limit.”

In addition, only dollar cards with a $10,000 limit can be used for foreign transactions, according to the bank.

The Bank wrote: “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.”

This follows the announcement by First Bank of Nigeria that customers’ Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) will be transferred to the FirstBank Travel Card.

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