By Abubakar Yunus
The Guaranty Trust Bank (GTBank) has increased the quarterly international spending limit on its naira cards to $40,000.
The latest limit represents a 566.7 percent increase from the $6,000 limit in May and 100 percent increase compared to the $20,000 limit as at August 10.
The lender announced the increase in an email to customers on Tuesday.
“Dear Customer, The international spending limit on your GTBank Naira Card has been doubled to $40,000 per quarter. Pay for flights, hotels, school fees & more,” the notice reads.
The financial institution also disclosed that the foreign exchange (FX) rate for international payments on its naira card on Tuesday, is N1,367 per dollar.
“Please note: FX rates are subject to change in line with prevailing market conditions,” the bank said.
The latest increase comes as Nigeria’s gross external reserves rose to $52.14 billion — the highest level this year, according to data from the Central Bank of Nigeria (CBN).
Banks resumed international transactions on naira cards in 2025 — about three years after suspension.
On July 5, 2025, in separate announcements to customers, the United Bank for Africa (UBA), Wema Bank, and GTBank said the service has recommenced on their naira cards.
When the service began, GTBank said only a thousand dollars can be spent on its naira card anywhere in the world every quarter.
The bank fixed withdrawals at automatic teller machines at $500 and online or point-of-sale (POS) transactions at $1000 quarterly.
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