Guaranty Trust Bank (GTBank) has officially restored international payment functionality on its naira-denominated Mastercards, allowing customers to make foreign transactions after a nearly three-year suspension.
UBA and Wema Bank also reactivate global transactions on naira cards due to improved FX liquidity and reforms by the Central Bank of Nigeria.
Bank customers can now make foreign currency payments for purchases on international platforms and directly pay for subscriptions and services on global sites—without relying on third-party apps, virtual dollar cards, or domiciliary accounts.
With this update, Nigerians can use their Naira ATM cards to shop internationally—on platforms like Amazon—directly from their Naira accounts, subject to the prevailing exchange rate and transaction limits set by their banks.
These transactions remain dependent on the availability of foreign currency at the time of payment. Some banks have set quarterly limits ranging between $1,000 and $2,000.
Several banks sent notifications to customers yesterday announcing the development. In its email, GTBank stated:
“Dear customer, we are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world.”
Why Now?
- Improved FX liquidity and narrowed spreads between official and parallel exchange rates.
- Foreign‑exchange inflows surged to nearly $6 billion per month in May–June 2025.
- Reforms by the Central Bank of Nigeria and increased diaspora remittances helped restore confidence.
What This Means for You
- You can now use your naira Mastercard for international online subscriptions, e‑commerce purchases, overseas POS payments, and ATM withdrawals abroad, subject to your bank’s quarterly limits.
- Enjoy greater convenience without needing to maintain multiple domiciliary (dollar) accounts.
- If you’re a GTB user, remember the caps:
- $1,000 overall per quarter for transactions,
- And $500 per quarter for ATM withdrawals abroad.
