NEWS
Banks Resume Naira Cards Use Abroad as FX Improves
By Samuel James, Abuja
Several Nigerian Deposit Money Banks (DMBs) have restored the use of naira cards for overseas transactions, setting varying spending limits as the foreign exchange (FX) situation shows signs of improvement.
The banks that have so far reactivated these services include: Providus Bank, First Bank of Nigeria, Guaranty Trust Bank (GTBank), United Bank for Africa (UBA), and Wema Bank.
GTBank has announced a quarterly international spending limit of $1,000 for its Naira card users. The breakdown shows that customers can withdraw up to $500 from ATMs abroad and spend up to $1,000 across online platforms and POS channels within a three-month period.
At First Bank, the international usage limit is set at $500 monthly, with defined transaction frequencies across different channels. According to the bank, cardholders can carry out up to 10 cross-border ATM withdrawals per month, with a charge of N5,000 per withdrawal. They can also perform up to 20 transactions monthly each on POS and web platforms at no additional cost.
Providus Bank informed its customers that they can now enjoy an increased international spending limit during the summer, specifically with its Platinum Naira Card, though the bank did not specify the exact ceiling.
Wema Bank has also resumed international transactions on its naira-denominated debit cards with a monthly spending limit of $500. The bank announced that customers can now use their Wema Mastercard, ALAT Mastercard, and Visa cards for foreign transactions, including online purchases, point-of-sale payments, and ATM withdrawals outside Nigeria. This move is part of ongoing efforts by Nigerian banks to ease access to foreign exchange for customers and restore confidence in cross-border payment capabilities.
The ease of bank restrictions abroad marks a reversal from 2022, when Nigerian banks were forced to slash international spending limits on naira cards from $100 to as low as $20 monthly.
That decision was driven by a chronic shortage of dollars and the struggle of manufacturers and other real sector operators to access FX through official channels.
At that time, the official exchange rate stood at N430 per dollar at the Investors and Exporters (I&E) window. As of July 4, 2025, the exchange rate stood at N1,528.56 per dollar in the Nigerian Foreign Exchange Market (NFEM), highlighting the major shift in Nigeria’s FX landscape.
This recent move by banks follows months of suspended cross-border transactions due to FX volatility and persistent dollar shortages. The resumption of naira card usage abroad signals a renewed confidence in FX liquidity and a more predictable currency environment, analysts say.
Analysts view the development as a significant boost to consumer and investor sentiment. It provides much-needed relief to customers who use naira cards for services such as online subscriptions, travel and shopping on foreign platforms.
‘Aligns with IMF recommendation’
Managing director and chief economist for Africa and the Middle East at Standard Chartered Bank, Razia Khan noted that this step aligns with policy recommendations from the International Monetary Fund (IMF).
She said, “It was one of the measures suggested in the latest Article IV consultation. The idea is that with a floating exchange rate regime, Nigeria no longer needs to maintain certain capital control measures.”
Echoing that view, an investment professional and managing director/chief business officer at Optimus by Afrinvest, Ayodeji Ebo described the development as evidence that current FX reforms are working.
He added that the recent appreciation of the naira in the past few weeks has added to market optimism. “This move adds to the growing confidence that the currency may remain relatively stable in the short- to medium-term, which is encouraging for businesses and investors alike.”
The restrictions on international transactions using Naira cards severely disrupted Nigerians’ ability to access essential foreign goods and services. From January 2023, some banks suspended or capped usage, first reducing limits to as low as $20/month, then halting all cross-border spending with naira cards. This choked individuals and businesses alike: students struggled to pay for visa fees, professionals saw domain and hosting renewals fail, and content subscriptions like Microsoft 365, Apple Music, and Netflix became inaccessible.
E-commerce startups and small businesses faced higher costs and inefficient workarounds, turning to expensive parallel market FX and fintech alternatives, all while limiting growth and deterring foreign investment.
The limits also fuelled Nigeria’s parallel (black) FX market and fintech sector. Many Nigerians turned to dollar-denominated virtual cards or domiciliary accounts, often funded at inflated black‑market rates, sometimes double official rates, driving further pressure on the naira.
Higher costs for ordinary consumers, disrupted business operations, and a permanent shift toward unofficial exchange channels all undermined confidence in formal banking and stability in the FX market.
Chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf attributed the recent resumption of international transactions with Naira cards by Nigerian banks to improved liquidity and stability in the foreign exchange (FX) market.
According to him, these developments have restored confidence in the system, both for financial institutions and their customers.
He emphasized the practical benefits for Nigerians, especially those who travel abroad. “As a Nigerian who’s travelling abroad, you don’t need to be carrying dollars in your pocket or in your bag. Sometimes, people have been embarrassed because of that. So, with your naira card, you can do whatever transactions you want,” he said.
NEWS
Mining Marshals Defend Stone Rockers Shutdown, Say Quarry Remains Crime Scene
By Elijah Oguche, Abuja
The Mining Marshals have defended the continued closure of Stone Rockers Nigeria Limited’s quarry site in Abuja, insisting that the facility remains a crime scene in an ongoing criminal case before the Federal High Court.
The clarification followed the company’s petition to President Bola Tinubu and other government officials over the 13-month shutdown, which it described as unlawful.The Commander of the Mining Marshals, John Onoja in a publication on official page said the quarry was sealed not as an administrative sanction but because it constitutes the locus criminis in Charge No.
FHC/ABM/VR/338/2026, involving Stone Rockers and its director, Kolawole Olaiya. They are accused of conducting illegal mining activities within a mineral title area belonging to Lord’s Career Ventures Nigeria Limited.He said the case followed extensive investigations into petitions by the complainant, which were referred to the Mining Marshals by the Ministers of Solid Minerals Development and Interior. According to him, investigators arrested the defendants at coordinates which fell within Mining Lease No. 000395 ML belonging to Lord’s Career Ventures, a claim reportedly confirmed by the Mining Cadastre Office in a January 23, 2026 letter.
Onoja also said evidence before the court includes correspondence allegedly written by a member of the defence team during the investigation, which he claimed contained admissions relevant to the allegations. He warned against attempts to secure administrative intervention while related criminal and civil matters remain before the courts.
The Mining Marshals rejected allegations of financial inducement, saying enforcement decisions were based solely on evidence gathered during investigations. The agency also said prosecutors had initially excluded workers from the charge because they acted as employees of a disclosed principal, but their participation in protests over the shutdown has prompted a review of whether some should be relisted.
The Commander maintained that public campaigns and alleged blackmail would not deter the Mining Marshals from enforcing Nigeria’s mining laws. He appealed to the media to strengthen editorial verification and gatekeeping, stressing that the dispute between Stone Rockers and Lord’s Career Ventures is ultimately before the courts for determination.
NEWS
Nigeria Thailand Deepen, Cooperation with New Agreement on Agriculture, Cooperatives, Innovation
By Raphael Atuu Abuja
The Federal Government of Nigeria and the Kingdom of Thailand have deepened bilateral cooperation with the signing of new agreements focused on agriculture, cooperatives and innovation, in a move to drive implementation of the Renewed Hope Cooperative Reform and Revamp Programme, RH-CRRP 2030.
The agreements were signed in Lagos, during a high-level engagement on the theme: Building Sustainable Partnerships: Connecting Youth, Innovation and Business between Thailand and Nigeria.
Speaking during the event, Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Sen.
Dr. Aliyu Sabi Abdullahi, said the signing marks the transition of RH-CRRP 2030 from policy formulation to practical implementation.The agreements include a Record of Discussions involving the Thailand International Cooperation Agency, TICA, Kasetsart University and the Federal Cooperative College, Oji-River, Enugu, as well as a Memorandum of Understanding between Kasetsart University and the Federal Cooperative College, Oji-River.
“Today, we have not merely witnessed the signing of documents; we have witnessed the strengthening of a partnership founded on knowledge, capacity development, innovation, institutional cooperation and shared prosperity,” the Minister said.
Abdullahi added that the partnership directly supports *Pillar 2 of RH-CRRP 2030 institutional Strengthening, Professionalization and Capacity Building.
“At the heart of this pillar is a simple but fundamental principle: we cannot build strong and sustainable cooperatives without strong institutions and well-trained people,” he said.
The Minister noted that the reform places deliberate emphasis on developing the knowledge, professional competence and leadership capacity of cooperative leaders, managers, regulators and members.
He referenced an earlier milestone on 12 August 2026 in Abuja, where the Ministry, the Cooperative Federation of Nigeria, CFN, and Seamfix Limited signed an MoU on the Cooperative Digitalization pillar of the reform.
“This demonstrates that RH-CRRP 2030 is moving beyond policy formulation towards implementation, institutional action and measurable impact,” Sen. Abdullahi said.
Linking the partnership to the Renewed Hope Agenda of President Bola Tinubu, the Minister affirmed that the administration is determined to reposition cooperatives as stronger instruments for agricultural transformation, enterprise development, job and wealth creation, financial inclusion and sustainable livelihoods.
“As we work towards Mr. President’s aspiration of building a one-trillion-dollar Nigerian economy within this decade, strengthening the capacity, professionalism and productivity of our cooperative institutions and the millions of Nigerians they serve will be critical,” he stated.
Abdullahi added that Thailand’s experience in agriculture, cooperative development, research and innovation presents important opportunities for mutual learning, while Nigeria brings enormous agricultural potential, a vibrant youthful population and significant opportunities for investment.
He charged all institutions involved to move “deliberately from agreement to implementation” with practical programmes, clear timelines and measurable deliverables.
“May today’s signing marks not the conclusion of a process, but the beginning of a stronger and more productive chapter in Nigeria–Thailand cooperation,” the Minister added.
In attendance were the Deputy Prime Minister and Minister of Foreign Affairs of the Kingdom of Thailand; Nigeria’s Honourable Minister of Foreign Affairs, Ambassador Bianca OdumegwuOjukwu, the Ambassador of Thailand to Nigeria; the Ambassador of Nigeria to the Kingdom of Thailand; the Director-General of TICA; the Executive Secretary of the Agricultural Research Council of Nigeria, ARCN; the President of Kasetsart University; and the Provost of the Federal Cooperative College, Oji-River.
RH-CRRP 2030 is a seven-pillar reform framework designed to reposition the Nigerian cooperative sector as an instrument for inclusive economic growth and distributed prosperity.
NEWS
Enugu Trains over 15,000 Civil Servants on E-Governance, Digitalization
From Sylvia Udegbunam, Enugu
The Enugu State Government has trained over 15,000 civil and public servants on e-governance and digitalisation fostering improved productivity, seamless and smarter discharge of duties.
The Enugu State Head of Service (HoS), Dr Godwin Anigbo, told newsmen on Sunday in Enugu that the over 15,000 target was achieved after the completion of the 5th batch of the “Enugu State Civil Servants Digital Literacy Programme”.
It would be recalled that Anigbo, a seasoned technocrat, who assumed office on July 18, 2025, disclosed this while enumerating his achievements in one year.
The HoS said that Gov. Peter Mbah’s administration had given civil and public servants necessary support and innovative-driven vision to meet the state’s economic growth and expansion targets.
He said that training and activities in the one year under review included: participation in the International Civil Service Conference in Abuja and conduct of confirmation/promotion for Clerical Assistants, Messengers, Store Officers etc from Feb. 23 to March 25, 2025.
“Training of Permanent Secretaries on Strategic Policy Alignment and Disruptive Innovation between Feb.10 and Feb. 13, 2026 and a 3-Day Workshop for Directors and Deputy Directors on Fiscal Stewardship, Strategic Oversight and Institutional Integrity in the Era of Disruptive Innovation between March 23 and March 25, 2026.
“Training of Chief Drivers/Mechanics and Plant Operators transferring to Works Superintendent between April 13th and May 6, 2026 and a 3-Day Training of Permanent Secretaries and Directors on Artificial Intelligence (Al) in collaboration with UNESCO between May 26 and May 28, 2026.
“4-Day Training of Administrative Officers on Optimizing Service Delivery and Productivity in a Digital Age between Oct. 28 and Oct. 31, 2025 and a 2-Day Sensitization Workshop for Nodal and Desk Officers SERVICOM service and wide projects.
“Conducted 2025 Senior Management Promotion; Organized 2025 Civil Service Week; documentation of newly-appointed political appointees and newly-employed officers; and monitoring workers attendance Service-wide-MDAs, General Hospitals and Local Government Areas among others,” he said.
Anigbo said that his initiated Public Service Training institute, being established through re-purposing and upgrading of the Staff Development Centre, would not only serve as training institute but also be a policy research, evaluation and think-tank institute.
The HoS noted that the new Staff Clinic at the State Secretariat Complex, which is being established leveraging partnership and corporate social responsibility through the private sector, is close to completion.
“In the period under review, Enugu State participated actively in the 47th Meeting of the National Council on Establishment, Kano 2025 and 48th Meeting of the National Council on Establishment between July 20 and July 24, 2026 in River State.
“My office, through the Planning, Research and Statistics (PRS), has maintained the State database by collecting, compiling, analyzing and updating Nominal Rolls from all the MDAs in the state.
“This exercise would, at the snap of the finger, show the total number of the state workforce, where they are posted, and their general status,” he said.
He said that his office is currently coordinating the processing of House Renovation Loans which attract a maximum of N1 million loan with a low single-digit interest rate of 6 per cent from the Federal Mortgage Bank of Nigeria.
Anigbo added that the loan, which would be given proportionately based on one’s salary, had no further attachments to it except that the beneficiary must be a civil or public servant.
“To ensure that every worker justified his/her pay, which the governor has graciously paid above the national minimum wage, we set up a monitoring committee unit in a department.
“The unit is saddled with the responsibility of monitoring of staff attendance in all MDAs in the state; while reports are generated from the field, analyzed and queries are issued to erring officers.
“At other times, their salaries are stopped to serve as a deterrent to others,” he added.
According to him, as Enugu State works towards a $30 billion economy by 2031, we are building a civil/public service that can work faster, use data better, reduce paper-based processes and deliver more efficient public services.
“Under the leadership of His Excellency, Dr Peter Ndubuisi Mbah, we are investing not only in infrastructure, but in the people and institutions required to deliver and sustain Enugu State’s transformation and growth.
“We are building a smarter, resilient, more productive and digital-cum-technological enabled government meant to deliver quality, measurable and impactful services to the people,” he added.


