The Central Bank of Nigeria (CBN) has ordered all banks and payment companies to make ATMs, POS, and online terminals ready for foreign cards. This move ensures smoother payments for tourists, Nigerians abroad, and locals using international cards.
Some key rules:
•Multi-factor authentication for transactions over $200/day, $500/week, $1,000/month
•Show exchange rates and fees clearly before payment
•Keep enough cash to settle transactions in Naira
•Track unusual transactions to prevent fraud
Resolve customer complaints quickly
•Train merchants on dispute and chargeback handling
Tourists or Nigerians having trouble with foreign cards are advised to report issues to CBN Consumer Protection at: [email protected]
This ensures safer and hassle-free payments everywhere in Nigeria.
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