In January 1, 2016, the e Central Bank of
Nigeria (CBN) ordered commercial banks
to stop customers from using their debit
and credit cards abroad in order to
slow the flow of foreign exchange out of
the country.
The ban is meant to prevent Nigerans
from using their naira-denominated credit
and debit cards for transactions that are
denominated in foreign currencies, either
locally or when they travel abroad.
Comments
Post a Comment