According to a BBC Africa report, Nigeria’s central bank has ordered commercial banks to stop customers from using their debit and credit cards abroad. The ban takes effect January 1, 2016. One bank has emailed customers to this effect, stressing it is a “temporary measure”.
The amount that Nigerians could spend on credit cards abroad has already been reduced by the banks. This has affected many Nigerians at home and abroad who depend on their Nigerian issued credit cards to carry out transactions ranging from students who pay school fees, travelers, and business owners.