The CBN Governor said Nigerians could continue to use the existing payments cards in the country for transactions.
He added, “But given that charges by foreign cards are in dollars, we will no longer pay dollars for the charges on those cards. Particularly, we would only pay dollars for charges for transactions that are done with whether they are domestic cards or foreign cards outside Nigeria” The banking regulator said the CBN, Nigeria Inter-Bank Settlement System Plc and the Nigerian banks would work together on how to segregate those transactions to ensure that they would only make charges or fees for international transactions that are conducted on the cards or the Visa or MasterCard.
“I thought it important for me to say so not because there’s any preference for the domestic card but what is most important is that we do not have foreign exchange and we will bar payment of charges for domestic transactions from the Nigerian foreign exchange market at some point in the very near future,” he said.All rights reserved.
Hamsuf How?
BenDiaspora 😔🤦 This man is confuse & given us more pain, why? U just started another Storm & u're entering another one again ha
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