Nigerian Banks Lift Naira Card Spending Limits Abroad as Dollar Liquidity Improves

Nigerian deposit money banks are raising the amount naira cardholders can spend overseas, citing rising dollar liquidity in the financial system after several years of foreign-exchange reforms. The move follows a broader stabilisation effort: analysts and bureau-de-change operators expect the naira to trade more steadily in 2026, supported by improved reserves, higher oil output, and stronger formal diaspora inflows encouraged by more market-reflective exchange rates.

The Central Bank also unveiled a Payments System Vision 2028, underscoring a push toward a deeper digital economy.

For diaspora readers, lifting card limits is a concrete signal that the FX squeeze that once stranded travelers and students is easing — though inflation near 16% means the relief is about access to dollars, not yet about everyday prices at home.

Source: The Nation (Nigeria); Nairametrics; BusinessDay; State House Abuja.