Global payments giant Visa issued a formal press release, reaffirming its commitment to ensuring its Naira-denominated cards offer “greater ease and global acceptance” for Nigerian consumers conducting cross-border transactions.
The announcement aims to bolster consumer confidence and highlight the full restoration of international capabilities on Naira cards, a feature that has only recently returned to the market after a prolonged and challenging suspension.
The press release, titled “Consumers to enjoy greater ease and global acceptance with Naira Visa cards for cross border transactions,” signals a significant move by Visa to reassure the Nigerian market of stability and reliability in its network. The company stressed that its cards, whether Naira or USD-denominated, remain a “safe, seamless, and reliable” gateway to global commerce for travel, e-commerce, and international subscriptions.
This reassurance follows a turbulent period for Nigerian cardholders. Beginning in 2022 and intensifying through 2024, most Nigerian banks, citing severe foreign exchange scarcity and Central Bank of Nigeria (CBN) policies, suspended international transactions on Naira-denominated cards. This move effectively cut off many consumers and small businesses from the global digital economy, forcing them to navigate the complexities of sourcing foreign currency to fund domiciliary accounts for even minor international payments.
Today’s statement from Visa emphasizes a return to normalcy.
“Visa continues to be at the forefront of enabling trusted global commerce,” said Andrew Uaboi, Vice President and Cluster Head for Visa West Africa, in the statement. “Our globally accepted cards provide Nigerians with greater ease and unmatched access wherever Visa is recognized, giving them the confidence to make secure and convenient international payments, supporting everyday needs and connecting consumers to opportunities around theworld.”
The recommitment is welcome news for a wide spectrum of Nigerian society. For individuals, it signals the end of frustrating payment failures for popular services like Netflix, Spotify, and international software subscriptions. For students, it restores a direct channel for paying tuition and academic service fees abroad.
Perhaps most critically, it provides a lifeline to Nigeria’s burgeoning digital economy. Small and Medium-sized Enterprises (SMEs), which increasingly rely on global tools, have been hit particularly hard by the restrictions.
“Whether you’re a small business sourcing goods, a student paying tuition, or a traveler making travel plans, Visa ensures your transactions are simple, safe, and seamless,” Uaboi added. “Cross-border payments are a vital part of today’s global economy. We understand how important it is for Nigerians to access goods and services from around the world with ease and confidence.”
The full-scale resumption of this service began in mid-2025, with major commercial banks like Fidelity Bank, Guaranty Trust Bank (GTBank), and United Bank for Africa (UBA) gradually re-enabling international spending on their Naira cards.
However, this “new normal” operates under different conditions than the pre-2022 era. While the service is back, it is subject to new, much lower spending limits imposed by the banks, reflecting the country’s ongoing cautious approach to foreign exchange management. Most banks have implemented quarterly or monthly caps, such as $1,000 per quarter, a significant reduction from the $50,000 or more in annual limits that were common a decade ago.
Visa’s role in this ecosystem is as the foundational network that connects Nigerian banks to millions of international merchants. The company’s statement highlighted its “advanced security infrastructure” designed to detect and prevent fraud, providing multiple layers of protection for cardholders.
By publicly reaffirming its commitment, Visa is signaling to its banking partners and the Nigerian public that its network is robust, secure, and ready to handle the full volume of the nation’s cross-border commerce needs. The move is seen as a strategic effort to rebuild trust and encourage the use of formal banking channels for international payments, steering consumers and businesses away from the less secure and often more expensive alternatives they were forced to adopt during the suspension.
As Nigeria’s economy continues to stabilize, today’s announcement from Visa serves as a powerful indicator that the country is, once again, fully open for global business.
