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UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

BIG STORY

BREAKING: Islamic Cleric Sentenced To Death For Killing Final-Year Female Student In Kwara

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A High Court in Kwara State has found Islamic cleric Abdulrahman Mohad, also known as Mohammed A. Bello, guilty and sentenced him to death.
He was convicted for the murder of Lawal Hafsoh Yetunde, a final-year student at Kwara State College of Education, in a ritual killing.

Justice Hannah Ajayi delivered the judgment on Thursday at the Kwara State High Court in Ilorin.
Four others—41-year-old Islamic scholar Ahmed Abulwasiu from Adualere, Ilorin; 28-year-old Neo Life business operator Sulaiman Muhydeen from Amilegbe, Ilorin; 29-year-old phone technician Jamiu Uthman from Adualere, Ilorin; and 31-year-old farmer AbdulRahman Jamiu from Elemere, Malete—were acquitted and released.

The crime happened on Monday, February 10, 2025, after Hafsoh received a call while attending a naming ceremony and then went missing.
Her disappearance led to an urgent search by loved ones and a police report filed the next day at Oja Oba Station in Ilorin.

Police investigators used her call records to track the last contact, which led to the arrest of Abdulrahman Mohad.
According to the police First Information Report, the suspects admitted they were part of the same occult group and confessed to robbing and killing Hafsoh for ritual reasons.

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ADC Chieftain Nafi’u Bala Declares Self Party Chairman, Vows To Challenge David Mark’s Leadership

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Nafi’u Bala, who previously ran for governor under the African Democratic Congress (ADC) in Gombe, has proclaimed himself as the national chairman of the party.

During a press conference held Wednesday night in Abuja, the former national deputy chairman of the ADC accused the leadership under David Mark of seizing control of the party unlawfully and violating its constitution.

BACKGROUND

In the previous month, several opposition figures and ADC leaders selected the party to serve as the coalition platform for the 2027 general elections.

Among those involved in the coalition are former Vice-President Atiku Abubakar, ex-senate president David Mark, former PDP national chairman Uche Secondus, ex-Niger governor Babangida Aliyu, former Ebonyi governor Sam Egwu, ex-governor of Sokoto Aminu Tambuwal, and former Cross River governor Liyel Imoke.

Additional members include ex-Kaduna governor Nasir el-Rufai, 2023 Labour Party presidential candidate Peter Obi, former interior minister Rauf Aregbesola, ex-transportation minister Rotimi Amaechi, former sports minister Solomon Dalung, ex-APC chairman Odigie Oyegun, and former sports minister Bolaji Abdullahi, among others.

On July 2, the party’s founder and former national chairman Ralph Nwosu announced the resignation of the national working committee (NWC) and endorsed an interim leadership headed by Mark.

Later, on July 29, Nwosu claimed he was offered three ministerial slots as an incentive to abandon plans of turning the party into an opposition coalition platform.

A faction within the ADC expressed opposition to this move, insisting the party should not be treated as a “private coalition platform” controlled by a select elite.

The party’s 2023 presidential candidate, Dumebi Kachikwu, also voiced disapproval over the opposition alliance’s adoption of the ADC.

‘I’LL CHALLENGE TAKEOVER IN COURT’

Bala stated that “bonafide” members of the party intend to take legal action over what he described as an illegal takeover.

“We wish to draw the attention of all members of our great party and Nigerians at large, to the ongoing acts of political hooliganism being perpetrated by some individuals who were hitherto entrusted with the leadership of the party,” he said.

“We are all living witnesses to the show of shame and acts of lawlessness being displayed by these unscrupulous leaders, who, without any qualm or sense of moral restraint, plunged our party into a needless crisis and leadership uncertainty.

“The idea of mortgaging the future of our great party, by abdicating the constitutional duties and responsibilities of all elected officers of the party, to some powerful outsiders who never belong to the party, is condemnable.

“Recently, the nation woke up only to be greeted by a shoddily rehearsed political melodrama, in which elected roles were switched with certain groups of political strangers in order to facilitate the complete takeover of the party structures and their political appurtenances.

“This total surrender and capitulation is without any known precedent in our democratic journey to constitutional order. We are therefore strongly resolved and collectively determined to challenge this affront and ensure that the party’s laid down rules and stipulated provisions are respected and strictly adhered to by all those who belong to it.

“In case these individuals choose to ignore our urgent calls to obey our constitutional guidelines and thus remain very obdurate and recalcitrant in their aberrant behaviour, we shall proceed with gusto to challenge these gross acts of impunity in the courts and bring them to justice.

“It gives us enormous pain to inundate you with these scandalous happenings in our party, but we have been left with no other option to take in defence of our inalienable constitutional rights, as evident by the prevailing situation we now find ourselves in the party.

“In the history of democracy all over the world, no party leader or any group of leaders have the power to arbitrarily transfer elected mandate or political authority to non-members who never belonged or contested for political office.”

He explained that the ADC constitution clearly outlines the process for succession and how to fill any leadership vacancies.

Following those guidelines, Bala announced that he has taken on the position of interim national chairman of the party.

He called on the Independent National Electoral Commission (INEC) to “urgently” recognise him as the party’s legitimate chairman.

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BIG STORY

Insecurity: Tinubu Should Stop Listening To Governors, Visit Streets — ADC

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The African Democratic Congress (ADC) says President Bola Tinubu is being misled by state governors about the true extent of insecurity in the country and urged him to engage directly with citizens to understand their realities.

The party, which has been adopted by the opposition coalition ahead of the 2027 elections, argued that insecurity continues to plague many areas despite claims by the Tinubu administration.

“I actually think President Tinubu needs to leave the Villa and go on the streets and talk to people and stop listening to this kind of narrative [that insecurity has been degraded] and stop listening to state governors who are just saying what they think they need to say to endear themselves to power rather than tell him the true feelings of the people,” said Bolaji Abdullahi, the ADC spokesman, on Channels Television’s Politics Today on Wednesday.

Abdullahi’s remarks were in response to statements made by presidential spokesman Daniel Bwala, who had said that insecurity had declined under President Tinubu’s leadership.

Bwala, also appearing on the same programme, argued that the security situation had improved since Tinubu assumed office.

He said, “Recently, we’ve been having a series of problems in Benue. Has it not gone down? We have had in Plateau. Has it not gone down? Look at the IPOB issue, unknown gunmen. You know, 2022, 2023, the case of murder there. You know how they were kidnapping people coming to people’s houses in the heart of the town.”

The presidential aide added, “Insecurity has been degraded to a large extent. What we are seeing in Nigeria is criminal tendencies that have no core relationship with whether somebody is governing well or not, because it exists in every part of this world.”

In contrast, Abdullahi criticised Bwala’s assessment, calling it a distortion of the country’s security situation.

“I feel sorry for President Tinubu because if this is the kind of narrative that he gets to hear all the time, then it is natural and obvious that he lives in a bubble,” he stated.

The ADC expressed concern over worsening insecurity nationwide, claiming that numerous communities remain under threat from criminal elements.

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