Senator Ben Murray Bruce has reacted to the
Central Bank of Nigeria's decision to ban
Nigerians from using their debit and credit cards
abroad. Reports about the planned ban came to
light few days ago when BBC quoted a source as
saying that the CBN will from January 1st 2016
stop foreign purchase via the use of credit or
debit card. The decision is reportedly part of the
government's effort to try to stem the flow of
foreign exchange out of the country.
The CBN has also reportedly written to various
commercial banks about this decision while some
banks have also notified their customers, saying
it is a temporary measure. Sen. Ben Murray-
Bruce however thinks this decision is not a wise
one. .
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