Tag Archives: bank

After nearly three years of suspension (mid‑2022 to early 2023), major Nigerian banks—including GTBank, UBA, and Wema—have resumed international transactions on their Naira debit cards as of July 2025 (nairametrics.com). Previously halted due to forex scarcity and FX market strain, this reinstatement comes alongside improvements in foreign exchange liquidity and stabilization of clear-market rates (firstweeklymagazine.com). 🧾 Spending Limits: What's Allowed? Most banks are granting quarterly limits of up to $1,000, broken down as follows: GTBank: $1,000 per quarter for all international transactions; ATM withdrawals abroad capped at $500 quarterly (nairametrics.com). Note: Some premium customers have reportedly received $4,000 quarterly limits—a variation likely based on profile, history, or card type (nairametrics.com). UBA: Offers $1,000 quarterly limit across its Gold, Platinum, and World Naira Cards for online, POS, and ATM use abroad (nairametrics.com). Wema Bank: Also reinstated international use with a $1,000 quarterly spend...