justBreathe:
As received from my bank just now:

"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."

What does this connote?

No more AliExpress?
How far does this go please?

Who issued the notice?

Nice one. A good development to curb inflation.

APC did it!

A short Nigerian movie that show where a young woman who's been intimidated becomes a shining star

https://www.youtube.com/watch?v=VV6tvDB87eM

https://www.youtube.com/watch?v=Htp1cIf_qTE

Lol

Well it seems we have reach the boiling point

Buhari Next Level Pro Max final edition loading

For the best, if you know you know

Hmmm... Which kind wahala be this?

I’m readily available to help you make any international transactions!

Soon they will close borders and isolate us like North Korea, bunch of illiterate unfortunate people.

Kajaard:
Yeap. Most Nigerian banks will stop the use of their naira denominated cards for foreign transactions.

Just open a domiciliary account and get a dollar denominated debit card and do your online transactions stress free from now on.

how much does the dollar debit card cost and also what’s the limit for transactions on the domiciliary account?

justBreathe:
As received from my bank just now:

"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."

What does this connote?

No more AliExpress?
How far does this go please?

$10,000 limit?

How did APC make Nigeria get so low in a space of 8 years?

Tinubu promises to continue from where Buhari stopped. Continuing, time shall come when Nigeria can no longer transact business with the rest of the world.

Ishilove:
I laugh in Ukwuani!

Smh

Are u from ukwani

Officialgarri:
This will hurt those in arbitrage business so bad.

May I also inform you that the cards listed as alternatives usually carry subscription charges ?

My access black card costs 84k annually and maybe the price has increased now.


Please don't allow desperation push you into buying virtual dollars from Nairalanders o. Majority are scammers.

go get a gt dollar account and apply for a card for N1k

the yearly cost of maintenance is just $10 dollars

they sometimes give you $30 as discount when buying things online

Very true. Expect stiffer policies sef. The new policy affects PTA/BTA. For those applying for PTA, no more cash!

While the policy seems unfair to genuine folks, it's the ONLY way to address the criminality of illegal bureau de change agents (and their political sponsors) who come to defraud the nation with the excuse of traveling abroad or making international purchase.

The banks are simply saying that:

If you want to travel abroad, go and withdraw your dollars abroad. We'll fund your card.

They placed limits on foreign transactions a long time ago to the point where it was useless for anything of note.

This is what happens when you allow useless people to run your country and economy.

But keep allowing tribalism to guide you. Keep allowing religion to distract you.

Una well done.

Will they give US dollar with bank rate ni?
CBN policy killing small business since 1900. I will source dollar from aboki and pay inside my dollar account to do transactions

Wicked people
Silly policy as usual
Mtcheeew

That's first Bank. I also received the same message few minutes ago

datola:
What's the difference between this and the $20 limit before.

Lass lass, make we kuku face local production and our market to strengthen the Naira. My only concern is our useless leaders will still use all the forex left to go flex abroad.

there is a difference

the 20 dollar limit was on naira card

the limit has always been higher on dollar cards

justBreathe:
As received from my bank just now:

"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."

What does this connote?

No more AliExpress?
How far does this go please?

Hard to tell. I tried purchasing a compliance course for 8 dollars on udemy but it kept rejecting my access bank card. I had to use dollar card before it went through. I had a similar experience trying to pay for an antivirus --card kept failing.
Get a dorm acct and dollar card or a payoneer card. Las las, God no go shame us!

Timekeeper452:
how much does the dollar debit card cost and also what’s the limit for transactions on the domiciliary account?

I have both the GTBank and UBA USD debit cards. I got the GTbank card 2 years ago so I cannot remember if I was charged for it, but the UBA card my domiciliary account was debited $10 for it. I got the UBA card this year and I must admit it's been seemless for online payments far better than the other one.

Mine is a Gold USD card and the limit monthly is $10,000 ( ten thousand USD monthly).

justBreathe:
As received from my bank just now:

"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."

What does this connote?

No more AliExpress?
How far does this go please?

And the bank you received it from has no name?

Kasssandra:
Yeah, we are not earning enough dollars due to

1.Subsidy payments going up, due to higher oil prices, which means higher fuel prices...and more money being spent to keep it low...which eats into our budget

2.Falling oil production due to theft, robbery, and government doing nothing about security.

3.From 2014 till 7-8 months ago, oil prices were too low to sustain us. Now that they are high, we have to still pay off the debt we took on during the lean years...(and yes, we had to borrow, otherwise we would have ended up with salaries not being paid for 2 years .)...and even during those years, we were still paying up debts.

4.Lack of a diversified economy. We did not diversify our economy.

5.Poor tax uptake. Our tax to gdp raito is 8.1%....too low to get us enough revenue. 30% of the economically active populaiton pays income tax to the government at federal and state level. Tax leakages and corruption are a thing.

6.Corruption and stealing. Especially at contracts, subsidy level and so forth. And yes, APC hasn't changed a thing.


That's why we are in this mess.

If we removed subsidies on petrol and power, and raised our tax to gdp ratio, and really focused on fighting corruption....we might get somwhere.

Campaigning begins next week, let's see what the candidates have in the tank. I'm not optimisitic.

You hit the nail on the head

thebosstrevor1:
This is nothing new

most countries not using the US dollars as their currency have this law in place

the only difference here in Nigeria is that, you have to source your dollar by yourself from the black market

Nice and dollar is 710... mumu

justBreathe:
As received from my bank just now:

"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."

What does this connote?

No more AliExpress?
How far does this go please?

It means it is finished.

Kajaard:


I have both the GTBank and UBA USD debit cards. I got the GTbank card 2 years ago so I cannot remember if I was charged for it, but the UBA card my domiciliary account was debited $10 for it. I got the UBA card this year and I must admit it's been seemless for online payments far better than the other one.

GTB charge $10 as well.

Arysexy:
Next LEBUL!

By the time Buhari and APC are done with this country. The trekking urchin now trekking with APC Coffin will develop elephantiasis of both legs from trekking

It's my turn (Emilokan) to sleep!

True talk..Buhari and ApC supporters are parasites. They want to destroy the country.