Back to today’s briefing

Story perspectives

Nigerian Banks Revive Global Transactions with Naira Cards

7/8/2025

43 10

Summary

Story summary

Nigerian banks are reigniting global transactions for naira debit cards after a three-year hiatus, enabling payments for popular services like Apple Music and Amazon. With United Bank for Africa and Wema Bank spearheading this revival, optimism in Nigeria's foreign exchange market is on the rise. Fintech companies now face the challenge of evolving to compete with these traditional banking giants.

1 of 1

Story summary

Nigerian banks are reigniting global transactions for naira debit cards after a three-year hiatus, enabling payments for popular services like Apple Music and Amazon. With United Bank for Africa and Wema Bank spearheading this revival, optimism in Nigeria's foreign exchange market is on the rise. Fintech companies now face the challenge of evolving to compete with these traditional banking giants.