CBN Clarifies Circular on Usage of Naira Denominated Cards Overseas

Regulators
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Friday, April 24, 2015 9.21AM/CBN

 

It has been observed that some sections of the public are giving different interpretation to the recent circular Ref: TED/FEM/FPC/GEN/01/007 dated April 13, 2015 on the usage of Naira denominated cards overseas. It has there become necessary to provide the following clarifications:

 

For the avoidance of doubt, the circular refers to Naira denominated cards (debit and credit cards) to be overseas only.

 

•Debit/Credit cards used locally are not affected by this circular.

•Debit/Credit cards linked to customers Domiciliary account to be used overseas are also not affected.

 

Authorised dealers are therefore advised to take note and bring this to the attention of their respective customers for compliance.

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