Banks Expand Naira Card Limit Abroad as Foreign Direct Investments, FX Inflows Rise

In response to increasing foreign direct investments and a rise in foreign exchange inflows, Nigerian banks have raised the limits on Naira cards used abroad. This development follows significant financial sector reforms and the Central Bank of Nigeria's successful clearance of a $7 billion backlog. As a result, foreign exchange inflows into the economy are projected to reach $112 billion by the end of 2025, indicating a strengthening financial landscape.

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