President Bola Ahmed Tinubu has announced that Nigerians can now use the Naira Card for payments and transactions worldwide, highlighting it as a sign of growing confidence in the nation’s currency.
The declaration was made on Saturday in Abuja during the 9th Annual Ramadan Lecture and Prayer for the Nation organised by the Ashraaf Islamic Foundation. The event focused on the theme Faith and Justice: The Islamic Judicial Perspective on Terrorism and Banditry in Nigeria.
Speaking through the Minister of State for Health, Dr Iziaq Adekunle Salako, Tinubu said recent economic reforms are beginning to show positive results. He noted that interest rates have been lowered by the Central Bank of Nigeria and inflation figures are showing signs of improvement. The president added that Nigeria has reduced its dependence on foreign currencies for international transactions, enabling citizens to travel abroad and rely on the Naira Card instead of carrying dollars, euros, or pounds.
Tinubu attributed the change to greater stability in the naira and improved management of external reserves. He also noted that food inflation has been declining steadily over the past year, with headline inflation following a similar trend. Acknowledging the initial hardships caused by his administration’s reforms, he described them as necessary measures to correct long-standing economic challenges.
On security, the president reaffirmed his government’s commitment to combating terrorism and banditry. He commended religious and traditional leaders for their support, emphasising that national unity is crucial for restoring peace and stability. Tinubu concluded that those threatening Nigeria’s progress would be confronted and overcome through collective effort and effective governance.
