Mit Magzter GOLD unbegrenztes Potenzial nutzen
Erhalten Sie unbegrenzten Zugriff auf über 9.000 Zeitschriften, Zeitungen und Premium-Artikel für nur
Naira Inches Toward N1,500 Breakout as Banks Restore FX Card Access
The Business NG
|The BusinessNG
The Nigerian Naira is edging closer to a key psychological threshold, trading at N1,528/$ on Friday in the official market, just shy of breaking the N1,500/$ resistance level.
-
This significant movement follows a wave of positive market signals, notably the decision by major Nigerian banks—including GTBank, UBA, Wema Bank, and Stanbic IBTC—to reinstate foreign exchange transactions on naira-denominated debit cards. Customers can now make international payments with a capped limit of $1,000 per quarter, including $500 in ATM withdrawals and $1,000 in online and POS payments.
In a statement, GTBank said: "This limit covers cash withdrawals from ATMs abroad up to $500 and online and point-of-sale transactions up to $1000. The cap applies to all naira card transactions outside Nigeria."
UBA added that all its premium naira cards—Gold, Platinum, and World variants are now fully operational for foreign transactions.
Diese Geschichte stammt aus der The BusinessNG -Ausgabe von The Business NG.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON The Business NG
The Business NG
Foreign Investors Eye Undercapitalised Nigerian Banks Amid CBN Clampdown
Nigeria's banking sector is at the center of an intense recapitalisation drive as the Central Bank of Nigeria (CBN) tightens enforcement ahead of the March 31, 2026, compliance deadline.
1 min
BusinessNg
The Business NG
Lawyers Invoke FOI Act to Demand Disclosure of FIRS-France Tax Agreement
A civil society organisation, Lawyers for Civil Liberties, has invoked the Freedom of Information (FOI) Act to request access to the mem-
1 min
BusinessNg
The Business NG
Tinubu to Present N54 Trillion 2026 Budget to National Assembly Today
President Bola Ahmed Tinubu will on Friday (today) present the 54 trillion 2026 budget to a joint session of the National Assembly.
1 min
BusinessNg
The Business NG
Reps Amend Electoral Act, Approve Mandatory Electronic Transmission of Election Results
The House of Representatives has approved a proposal mandating the real-time electronic transmission of election results, marking a significant step toward strengthening Nigeria's electoral process.
1 min
BusinessNg
The Business NG
Abuja Blackout Deepens Security Fears as Residents Slam AEDC's Silence
Residents of several communities in Abuja have expressed growing frustration and fear after a prolonged power outage plunged parts of the Federal Capital Territory (FCT) into darkness, worsening security concerns and disrupting livelihoods.
1 min
BusinessNg
The Business NG
Telecom Failures Put Minister Bosun Tijani Under Public Scrutiny
Once celebrated as one of Nigeria's brightest tech minds, Minister of Communications, Innovation and Digital Economy, Bosun Tijani, is now facing mounting public criticism as Nigerians question the tangible impact of his tenure.
1 min
BusinessNg
The Business NG
CBN Targets N825Bn in Final 2025 Bond and Treasury Bills
The Central Bank of Nigeria (CBN) has announced plans to raise a total of 825 billion from the domestic debt market in the final round of Federal Government securities issuance for 2025, underscoring the government's continued reliance on local borrowing amid elevated interest rates.
1 min
BusinessNg
The Business NG
Tax Reform Countdown: SMEs Gain, High Earners Pay More
Nigeria is set to witness a historic transformation in its fiscal landscape as the Federal Government rolls out sweeping tax reforms designed to boost fairness, ease the burden on low-income earners, and stimulate business growth.
1 min
BusinessNg
The Business NG
Naira Holds Firm as Nigeria's Forex Reserves hit $45.4Bn
The naira remained under pressure at the Nigerian foreign exchange market (NFEM), closing at 1,455 per US dollar on Wednesday, reflecting ongoing demand for dollars amid liquidity challenges.
1 min
BusinessNg
The Business NG
Three Months to Recapitalisation: Weaker Banks Explore Mergers as Investors Hesitate
With just three months remaining before the Central Bank of Nigeria's (CBN) recapitalisation deadline, several weaker banks in the country are reportedly considering mergers as a strategy to strengthen their financial position and remain compliant with regulatory requirements.
1 mins
BusinessNg
Listen
Translate
Change font size