The ban is to take effect from January 1, 2016. Nigerian banks will not allow their customers use naira-denominated debit/credit cards for transactions denominated in forex.
This means also that bank customers will not be able to use their cards to buy products from foreign e-commerce sites like e-bay and amazon.com 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.
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