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.