Home Business We’re monitoring use of naira-denominated cards – CBN
We’re monitoring use of naira-denominated cards – CBN
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We’re monitoring use of naira-denominated cards – CBN

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Image result for We're monitoring use of naira-denominated cards - CBNThe Central Bank of Nigeria says it is closely monitoring the use of naira-denominated cards for international transactions by bank customers.

This is happening as some banks adjust spending limits for their customers.

According to the CBN, monitoring such transactions was to ensure that gains recorded in the foreign exchange market were not lost.

Some banks have restricted the monthly spending on naira cards to only high net worth customers.

Last year, many Nigerian banks suspended forex transactions on their naira debit and credit cards.

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