A recent statement on X sparks debate about the future of fintech payments in Nigeria: the return of naira debit cards could make some fintech apps obsolete due to their high transaction fees and wide FX spreads. This claim highlights a crucial structural shift within Nigeria’s payment ecosystem, demanding a data-driven analysis. 🇳🇬 The Central Bank of Nigeria’s (CBN) recent reforms have significantly improved dollar liquidity and stabilized exchange rates, leading banks like UBA, FirstBank, GTBank, and Wema to reinstate global use of naira debit cards. This reversal comes alongside a surge in monthly FX inflows, exceeding $5.96 billion, since May 2025, driving a more favorable FX environment for Nigerian businesses.