GUARANTY Trust Bank (GTBank) has raised the international spending limit on its naira cards from $1,000 to $6,000 per quarter.

The 500 percent increase indicates a sustained improvement in Nigeria’s foreign exchange (FX) liquidity, according to analysts.

In a customer notice on Monday, the bank said: “Please note that the dollar limit on your Naira card is now $6,000 per quarter, and this rate is subject to change in line with prevailing market conditions.”

GTBank’s exchange rate for international card transactions stood at N1,442 per dollar on Monday, unchanged from Friday. A banker, Ms Bunmi Adebola, said other banks would likely join the bandwagon as FX liquidity had improved.

“Other banks will likely follow suit, as this is an inducation that dollar is now increasingly available,” she said.

In July 2025, banks resumed allowing naira cards for foreign transactions after a prolonged suspension, setting varying limits for customers. GTBank’s cap at the time was $1,000 per quarter—covering up to $500 in ATM withdrawals and $1,000 in total point of sale (POS) and online spending across three months.

READ ALSO: Customers hit GTB with 1051 suits, demand N427.9bn, $83.96m

First Bank, on its part, fixed a $500 monthly limit, permitting up to 10 international ATM withdrawals (each attracting a N5,000 fee) and 20 POS or online transactions without extra charges.

Stanbic IBTC, a local unit of South Africa’s Standard Bank (SBKJ, permitted $500 transaction per month on local credit cards.

This marks a major turnaround from 2022, when most banks slashed naira card limits for international use from $100 to as low as $20 per month amid acute dollar scarcity. Back then, the Investors’ and Exporters’ (I&E) window rate hovered around N430 per dollar.

By July 4, 2025, the exchange rate had climbed to N1,528.56 per dollar in the Nigerian Foreign Exchange Market (NFEM), reflecting a period of volatility followed by relative stabilisation.

GTBank’s latest upward review underscores growing confidence in FX liquidity and signals renewed stability in Nigeria’s FX market—conditions that may further ease the strain on naira card users making international payments.

GTBank financials

GTBank unaudited consolidated and separate financial statements as of September 30, 2025, shows that the group – GTCO- posted profit before tax of N900.8billion

Group’s total assets stood at N16.7 trillion, while shareholders’ funds closed at N3.3 trillion. Capital Adequacy Ratio (CAR) remained very robust at 36.5 percent

GTBank is facing a legal storm as several customers and other associates sued the lender in the first six months of the year, demanding N476 billion and $93.2 million.

READ ALSO: GTB fights back as customers demand N476bn, $93.2m in court

According to the bank’s first half (H1) 2025 financial statement seen by Economy Post, the bank was involved in 1,183 cases as a defendant over the period, with customers and other related entities demanding N476 billion and $93.2 million.

On the other hand, the financial institution was involved in 475 matters as a plaintiff, demanding N333.5 billion from customers and other related entities.

It was gathered that between January and June 2025, customers and other entities initiated 132 new cases over several unresolved issues. In December 2024, the bank had 1,051 cases in court as a defendant, with customers demanding N427.9 billion and $83.96 million. More so, GTB had 466 cases in court as a plaintiff, demanding N201.89 billion from customers and related entities.

“The solicitors of the Group are of the view that the probable liability which may arise from the cases pending against the Group is not likely to exceed ₦10.03 Billion (31 December 2024: ₦10.9 Billion). This probable liability has been fully provided for by the Group,” the bank noted.

GTB was involved in 1,051 court cases as of the end of 2024, with customers and other entities demanding N427.9 billion and $83.96 million.