Nigerian Banks Increase International Card Spending Limits
Several Nigerian banks have significantly increased international spending limits on naira debit cards. This move follows improvements in the country's foreign exchange market conditions.
Why it matters
Increased access to foreign currency for international transactions is a key indicator of economic stabilization and improved liquidity in Nigeria's banking sector.
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Several Nigerian banks have raised the spending limits on naira debit cards for international transactions, giving customers broader access to foreign currency as conditions in the country's foreign exchange market improve.
Guaranty Trust Bank has set a new quarterly international spending limit of $20,000 for eligible customers.
Nigerian banks relax international card restrictions after FX market gains Photo: Bloomberg Source: Getty Images The figure is more than three times the $6,000 quarterly cap that was previously in place and represents a 20-fold increase from the $1,000 ceiling that applied as recently as July 2025.
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