This is too bad to be starting the year with. I’m pretty sure a lot of you buy on foreign sites like Ebay, , gearbest or best buy and the likes…
A lots of you even host your domain with foreign hosting company like Namecheap, Godaddy, bluehost etc. How will you feel when you want to pay for goods on AliExpress and you are told that your card is decline? Or you want to renew your domain with Godaddy and you are told that your card is invalid?
Let me explain this in layman’s language. . . A new Policy has been pass by Deposit Money bank to stop all customers from using their payment cards, popularly known as Automated Teller Machine cards, for dollar-denominated transactions when they travel abroad with effect from . This means bank customers will not be able to use their cards to buy products from foreign e-commerce sites like e-bay, AliExpress and amazon.com in which payments are made in forex.
January 1, 2016
To tell you how serious this is, Standard Chartered Bank has notified its customers that from January 1, 2016, they will not be able to use their naira-denominated ATM cards for transactions that are denominated in foreign currencies, either locally or when they travel abroad.
Let me cut the story short, From January 1 , your local Master naira card becomes useless on AliExpress, Gearbest, best buy or any foreign site.
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What of PayPal?
I don’t know about , but since its linked to your Master Card, I guess it will be useless to but I’m not too sure about it.

source: http://www.naijacomms.com/2015/12/too-bad-nigerian-banks-stop-use-of-atm.html

This is unbelievable, I hope the government is not returning us to stone age

yo!

Sure, dis is serious! Though it hs a better long run effects bt d immediate short term effects wl be so untold. A few countries went thru dis before, and they are better off tdy.

Wt God, we will survive it.