Several Nigerian banks and fintech companies have suspended international transactions on naira cards. The directive, which is set to come into effect on December 31, will also affect offshore ATMs and point of sale (PoS) transactions across the country. The move is reportedly connected to the Central Bank of Nigeria’s (CBN) policy of reducing dollar spending abroad and saving foreign exchange for the economy. In March, financial institutions in Nigeria cut international spending on naira cards from $100 to $20 per month.