First Bank of Nigeria says it will suspend international transactions on its naira Mastercard from September 30.

In March, financial institutions reduced the international spending limit on naira cards from $100 to $20 monthly.

In a recent statement to its customers, the bank said such transactions would not be available on its naira credit card, virtual card and visa prepaid naira card.

“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,” First Bank said.

"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.”

In July, Standard Chartered Bank suspended international transactions on its naira visa debit card.

Flutterwave, Eversend and other fintech platforms had also stopped virtual card services for international transactions.

The development comes on the back of foreign exchange scarcity — affecting key sectors — which the country is currently battling.

On Tuesday, the naira dropped to N436 a dollar at the Investors and Exporters window and N712 at the parallel market.

The Central Bank of Nigeria (CBN) had hinted that it would stop the sale of foreign exchange to banks by the end of the year.

Godwin Emefiele, CBN governor, said banks should generate FX proceeds from exporters to give their customers (importers).

“The era is coming to an end when, because your customers need $100 million in foreign exchange or $200 million, you now want to pack all the dollars and pass it to CBN to give you dollars,” he had said.

“It is coming to an end before or by the end of this year. We will tell them don’t come to the Central Bank for foreign exchange again go and generate their export proceeds.”

https://www.thecable.ng/first-bank-to-suspend-intl-transactions-on-naira-cards-sep-30/amp

Previous thread https://www.nairaland.com/7344592/no-more-international-transactions-did

Hmnnnn... meanwhile

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Ok

This rules will affect entrepreneurs trading arbitrage

Very useless bank
This stupid bank just refuse to upgrade... You can't find all these microfinance banks on their app, so many things wrong with the bank...
I deactivated sms from my account because of the bogus sms charges, you won't believe they reactivated it without giving them go ahead or consulting me

have you think of what APC will use as selling
points as campaign kicks off next Wednesday.

Insecurities
students are out of school due to prolong arguments.(ASUU STRIKE).

I don't want to list all.. I will leave this for APC supporters.. why you can't be ashamed mentioning APC to the poor masses?..

i hope you're buying spaghetti 150 instead of N500 current market price at Tinubu street. because he was part of the architects of this mess we are facing today?

i feel really bad.. honestly

Welcome to change, may more of Buhari fall on Nigerians.
Una never see anything, by d time buhari finish Nigeria, na that time una go get sense by force.

Our country is being held ransom by foreigners. Black men are selfishly impoverishing their own selves. Black people hate each other. Imagine how this country is split into two different major religions. Amidst that, we are split into different regions, then states, then tribes, then cities, then villages, then clans. What is left?

We keep tearing each other down while Lebanese, Indians, and Chinese come here, team up as one unit and divulge on us like fools. We just want to impress our fellow poor brothers and intimidate them.

Imagine, I went to a bank last week and spoke to a cashier and they treated me so unjustly at the entrance because I spoke in an accent. They asked me to "talk well" hahaha. I wonder how my accent was supposed to remain the same after 30 years in foreign... But, they could understand an Asian lumberjack speaking cut-through jargon. When you identify as a foreigner, they understand every utterance but once you identify as Nigerian, the treatment changes. Why?

The divisiveness, the hatred, and the prejudice are entrenched. This makes me believe that no helper can be for us. Soon, what happened to Sri Lanka or Venezuela will befall us if we keep this pace.

Your fellow Nigerian will be asking you where you are from. That question is the most RACIST and TRIBAL of all. Once a Nigerian asks you, "WHERE ARE YOU FROM?", do not bother continuing that conversation. He is only trying to enclose you in that category in his putrefied head.

A sincere person who wants to know you should ask what your name is. Then, seek to know the person behind the name. My state or village does not define me. I am a human being first before anything.

Nigerians will tell you how unafrican it is to perform cunnilingusss on an African woman, but willing to perform rimming on an old Caucasian lady. A Nigerian man will hardly tell a Nigerian girl his age, but freely willing to sing it to a Caucasian.

In the east, they say that a woman is not supposed to see a certain masquerade. An Igbo lady can be flogged for stepping out when the masquerade dances. But, white women attend the festival, dance, and take pictures with the masquerade who poses like grilled chicken standing next to her.

Nigerian men will wash undies for old Caucasian ladies but cannot wash their own boxers when their African women are home.

Some men who cannot pay black young and pretty girls just 10,000 naira for sex are willing to pay 400k for old fake-white or brown girls in Abuja.

Atiku's son had to wed the daughter of a royalty in Ghana, but Oshiomole and Ned Nwoko picked random street girls from Cape Verde and Morocco with no family name or royalty.

Every tribe has evil against the other. Itsekiri and Ijaw cannot sit. Igbo and Yoruba cannot. Hausa and Igbo cannot. it feels like a microcosmic battlefield.

It is all about tribe but when an Asian shows up, it is all about friendship. These Asians care not a bit about them. In fact the new racists in Northern America and the UK are the Asians, not even the whites.

How can you survive here when everyone is like a parasite seeking to destroy his neighbor?

This government wants you to pay the price of their negligence and thievery.

Irupetepete:
Very useless bank

Most of them are useless! Meanwhile that's what this presently prevailing civilization has to offer. It has fashioned out a system of trade and transaction where money is mismanaged and devalued.

Don't worry. God willing, after the great reformer, the great emperor "The Unity" has emerged and established his New Era, you'll realize the true value of money and the true and proper course that should be followed in doing trade and managing money.

We await his coming.

Dollar na even 710 for aboki now

Economists in the house, would that mean, another ATM card which would carry foreign and domestic transactions be made available and does it apply to everyone even those with shikini money for their savings account?

Buhari haff finish Nigeria kpatakpata

In Fabrizio voice.. "Here will go"

Me bloodclaat

Please, how does this affect payment of tuition fees abroad?

Na wuna Sabi

[img]https://giffiles./217/217063.gif[/img]

Ike gwuru!!

1 Dollar = 710 naira...

I try not to get involved in nairaland politics of bitterness and tribalism, but the fact that people insult themselves and spread so much hate on this forum, just because they still support APC and PDP shows that we are not ready for progress in this country...

Nigerians really deserve to suffer, until we receive sense..

Once again IKE GWURU!!

Since banks cannot give you usd, people will source from aboki. The black market is now the CBN. Abokis continue to dribble our economy

Lol
ThankGod I don japaa

nlfpmod:


https://www.thecable.ng/first-bank-to-suspend-intl-transactions-on-naira-cards-sep-30/amp

Previous thread https://www.nairaland.com/7344592/no-more-international-transactions-did

God Abeg, give us competence come 2023

Somebody wants to finish Nigeria kpata-kpata

Nah to go get my visa multi currency or prepaid (usd) card

Okay

I got the message, very stupid of them

E don be

My own no dey work since sef

Too bad from cbn. How do we make payments for online courses now?

Buhari the Fulani man from Niger Republic has caused so much problems.

Now one Reno Omokri wants us to vote in another Fulani man from Cameroon ?