NO Foreign Transactions with your Naira ATM/Debit/Credit Cards from January 2016

 

The CBN has been rationing dollar to banks, importers and other forex users as the nation’s foreign exchange reserves continue to deplete, hitting $29.4bn on December 7, 2015.

and in a recent notice to Standard chartered customer reviled the intention of CBN to stop the use of Naira card for Dollar transaction 

This a bad news for travelers who use this to settle their payment   

Sunday Punch reveals,

In a notice to its customers, Standard Chartered said, “This is to notify you that from January 1, 2016, your naira card will no longer be enabled for international use. This is as a result of the limited foreign exchange supply in the financial market.”

Asked how long the suspension of cards from international transactions would be, the spokesperson for Standard Chartered Nigeria, Mrs. Dayo Adurogbo, said, “We cannot give a definite date. It depends on how soon it is available. We will do everything to meet our customers’ demand once it is available.”

Further findings showed that a number of other banks had stopped customers from using their ATM cards abroad but had yet to officially communicate this to them.