Facts emerged on Tuesday that banks in the country decided to stop their naira debit cards from working abroad after the Central Bank of Nigeria asked them to adopt the interbank foreign exchange rate as the basis for charging customers for foreign currency-denominated transactions.
Deposit Money Banks, including Standard Chartered Bank, Stanbic IBTC Bank and Guaranty Trust Bank Plc, had on Friday announced the suspension of the cash withdrawal from Automatic Teller Machines and PoS terminal transactions abroad using naira debit cards.






