Deposit Money Banks (DMBs) in Nigeria are raising the spending limits for naira cardholders traveling abroad, a move attributed to an increase in dollar liquidity resulting from higher foreign direct investments (FDIs) and foreign exchange inflows. This adjustment aims to enhance the purchasing power of Nigerian travelers and facilitate smoother transactions in international markets. The decision reflects the banks' response to the improved economic conditions and the need to support customers engaging in overseas expenditures.
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