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Nigerian students abroad protest CBN’s ban on ATM use abroad


Nigerian students abroad protest CBN’s ban on ATM use abroad.
A number of Nigerian students studying abroad staged a peaceful protest in front of the Nigerian embassy yesterday. This was because of the Central Bank of Nigeria’s ban on the use of Debit and credit cards outside Nigeria. In the cause of policy adjustment, CBN plans to stop the use of Nigerian debit and credit cards with effect from January 1st 2016.

The banks will not allow their customers to use naira-denominated ATM cards locally for transactions denominated in forex.

This means that bank customers will not be able to use their cards to buy products from foreign e-commerce sites like e-bay and in which payments are made in forex.

Different photographs of placard-carrying protesters had gone viral on the Internet on Saturday, in which the youths stated that they needed the payment cards to survive.

Various websites and blogs that published the photos however did not give the details of the protesters’ location.


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