With banks across the federation suspending foreign transactions on naira-denominated debit cards, purchasing from AliExpress in Nigeria has become very challenging.
This has led to dissatisfaction among Nigerian customers who depend on the marketplace for various inexpensive items, causing some to seek alternatives on the local level.
This move was taken by the country's banking institutions in response to a persistent shortage of foreign currency and the Central Bank of Nigeria's stringent capital outflow policy.
The suspension of foreign transactions has increased the cost of goods and decreased profit margins for small enterprises, particularly those who depend on AliExpress to obtain products to sell.
As a result, the easiest and quickest method to pay for items on AliExpress from Nigeria is to use a virtual dollar card provided by fintech programmes.
These virtual dollar cards enable Nigerians to conduct foreign currency transactions outside of the conventional banking system.
Virtual bank cards may be readily funded by bank transfer, although they function at black market rates rather than official CBN rates.
To purchase from AliExpress in Nigeria, adhere to following steps: