BREAKING: CBN Bans Dollar Charges On Domestic Transactions

With the launch of the National Domestic Card scheme, Afrigo, the Central Bank of Nigeria (CBN) has said it will be coming up with a deadline for the existing

Speaking at a virtual launch of the card scheme on Thursday, the Governor of the CBN, Godwin Emefiele, said: “all domestic transactions that are that are going to be conducted in Nigeria will have to be through the Nigerian domestic cards.”

Noting that the domestic card scheme avails the country “the sovereignty of our data” in addition to coming at a lower cost, Emefiele added that “at this time when foreign exchange challenges persist globally, it is important that we have this card to ensure that all card transactions, online transactions where you’re using cards will now effectively immediately begin to go on the Nigerian National Domestic system.

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