GTBank Doubles Naira Card Spending Limit to $40,000

GTBank has doubled the quarterly international spending limit on its Naira-denominated debit cards to $40,000, up from $20,000.

Guaranty Trust Holding Company Plc, through its banking subsidiary, Guaranty Trust Bank, announced the increase to retail and corporate customers. The new GTBank card limit allows customers to make higher-value international payments directly from Naira-funded accounts.

The revised threshold covers eligible transactions such as international airline bookings, hotel payments, overseas merchant POS transactions and foreign tuition fees.

The move points to improving FX liquidity in Nigeria’s banking system and greater confidence among banks in meeting legitimate international payment needs. Increased foreign exchange inflows from foreign portfolio investments, non-oil exports and other autonomous sources have also supported the change.

Banks now have more flexibility to set international card limits based on their foreign currency liquidity, risk controls and operational capacity. GTBank’s decision therefore reflects wider efforts to normalise access to foreign exchange following reforms in Nigeria’s FX market.

The higher GTBank card limit could also reduce demand for the parallel market. Travellers, students, businesses paying for overseas services and users of foreign digital platforms may have less need to obtain foreign currency through informal channels.

The new threshold is expected to cover online payments and international merchant POS transactions, while ATM cash withdrawals remain subject to separate limits.

The change comes as GTCO seeks to expand alternative revenue sources. The group reported a 15.4 per cent decline in first-quarter 2026 profit after tax, despite double-digit growth in net interest income. Higher tax expenses and weaker fair-value performance of financial instruments contributed to the decline.

GTCO also maintains a relatively cautious lending approach. About 16.9 per cent of its assets were deployed as loans in the first quarter, reflecting its focus on treasury investments, transaction banking and electronic banking fees.

The higher GTBank card limit could help increase transaction volumes and fee income while strengthening the bank’s position in cross-border digital payments.

Could the higher spending limit make international payments more convenient for Nigerian customers?