GTCO, FirstBank, Zenith Bank, Others Raise Dollar Spending Limits as FX Scarcity Eases

Zenith Bank, FirstBank, GTCO Raise Dollar Spending Limits As FX Liquidity Improves

Zenith Bank, FirstBank and Guaranty Trust Bank have expanded the amount customers can spend internationally using naira-denominated cards. The revised thresholds allow eligible Zenith Bank customers to conduct international card transactions of up to $50,000 annually, while FirstBank customers can spend as much as $10,000 quarterly across online and point-of-sale transactions. Guaranty Trust Bank has […]

Nigeria’s Reserves Hit $54.08bn, Highest Since 2008

By Christian Oduroye Nigeria’s external reserves rose to $54.08 billion on September 3, their highest level since December 2008, according to the latest data from the Central Bank of Nigeria (CBN). CBN figures showed gross external reserves at exactly $54,083,850,797.49 on September 3, up from $53.99 billion on September 2 and $53.90 billion on September […] The post Nigeria’s Reserves Hit $54.08bn, Highest Since 2008 first appeared on QUICK NEW…

Zenith Bank Naira Cards Now Support $50,000 Foreign Trade

Zenith Bank has announced that holders of its Naira debit cards can now conduct international transactions of up to $50,000 annually. The bank disclosed the development in a customer-facing announcement, indicating that its Naira cards are now enabled for international transactions within the stated annual limit. The new arrangement covers Zenith Bank Naira debit cards, […] The post Zenith Bank Naira Cards Now Support $50,000 Foreign Trade appea…

Banks increase international card limits as Nigeria’s reserves climb to $54bn

Nigerian banks are raising international spending limits as improved foreign exchange liquidity and stronger reserves ease pressure on dollar availability.

GTCO, FirstBank, Zenith Bank, others raise dollar spending limits as FX scarcity eases

After years of restrictive international transaction limits driven by foreign exchange shortages, Nigerian banks are once again expanding customers’ access to dollar-denominated payments.