Global Trade Alert
Global Trade Alert

Nigeria: Reduction of overseas credit and debit card use to USD 50’000

Announcement

13 Apr 2015

In April 2015, the government of Nigeria announced a change in the private sector requirements to balance imports and exports.

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

0 in force

Implementation date

13 Apr 2015

Revocation date:

No revocation date

Controls on commercial transactions and investment instruments

On 13 April 2015, the Central Bank of Nigeria (CBN) announced a reduction on the use of Naira denominated cards for overseas transactions. The limit was reduced from USD 150'000 to 50'000 per person ...

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