Photo: Naira Debit Cards
…Banks and their limits on Naira debit cards
By Oghenekevwe Kofi
In a surprising and much-welcomed move, Guaranty Trust Bank (GTBank) has officially restored international spending access on its Naira debit cards, marking a major milestone in Nigeria’s ongoing recovery from years of stringent foreign exchange restrictions. The announcement has not only excited GTBank customers but also signaled a broader wave of renewed global payment access, with United Bank for Africa (UBA), Wema Bank, and Providus Bank joining the charge.
For GTBank customers, the update means that Platinum Customers can now use their Naira Mastercard to pay for goods and services in foreign currencies, with a quarterly spending limit of up to $4,000. This allowance includes a $500 cash withdrawal limit at ATMs abroad, as well as the ability to subscribe to international services and shop online on platforms such as Netflix, Amazon Prime, Spotify, AliExpress, and Amazon. According to the bank’s communication, other cardholders can now enjoy a quarterly international spending limit of up to $1,000, which also includes a $500 cash withdrawal allowance from ATMs overseas.
This latest move represents a dramatic shift from the past few years when Naira debit cards were either completely restricted from international use or subjected to extremely low monthly caps—sometimes as low as $20 at some banks—due to Nigeria’s foreign exchange scarcity. Now, with the Central Bank of Nigeria (CBN) reporting monthly foreign exchange inflows nearing $6 billion, banks are regaining confidence to reopen cross-border access on Naira cards.
The good news extends beyond GTBank customers. Other banks are lifting restrictions with varying limits for their clients.
The United Bank for Africa (UBA) also announced the reactivation of international usage for its Gold, Platinum, and World Premium Naira cards. These cards are now enabled for online payments, in-store purchases abroad, and ATM withdrawals. While UBA has not publicly disclosed specific spending limits, the move signals an easing of restrictions across the Nigerian banking industry.
Wema Bank confirmed through SMS and email notifications that its Naira Mastercard, Visa, and ALAT cards can now be used globally, including on popular international platforms such as AliExpress, eBay, Netflix, and YouTube.
Fidelity Bank has also resumed international transactions on both credit and debit cards. The bank has set a quarterly spending limit of $1,000 for international transactions, aligning with industry standards.
Nigeria’s pioneer bank, First Bank Nigeria, has a monthly limit of $500 on its FirstBank Naira Mastercard for online, POS, and ATM terminals. But because of its low limit, it is suitable for customers who have other cards or are light international users for shopping, paying for streaming services, or other online services.
Stanbic IBTC has an even lower monthly limit of just $100 on its Naira cards.
Perhaps most impressively, Providus Bank—a newer, digital-first bank—has been offering some of the highest international spending limits in the market. Its Platinum Naira Mastercard allows up to $3,000 in monthly international spending, while its Classic card supports up to $1,200 monthly. These cards are accepted across web, point-of-sale (POS), and ATM channels, making them ideal for freelancers, remote workers, and frequent global shoppers. Requirements include an opening deposit of ₦250,000 (held for three months) for the Platinum card.
With GTBank leading this structured relaunch and other banks like UBA, Wema, and Providus stepping in with flexible offerings, there is growing optimism that major banks such as Access Bank, Zenith Bank, Ecobank, and Standard Chartered will soon follow suit.
As Nigeria’s foreign exchange environment stabilizes and inflows continue to improve, this could mark the start of a new era—one in which Naira cards are no longer grounded but soar high again in the global financial space. This development not only boosts consumer convenience but also strengthens Nigeria’s integration into the global digital economy.
