Banks Raise Dollar Card Limits as FX Pressure Eases in Nigeria

Some Nigerian banks are giving customers more room to spend internationally as foreign exchange liquidity improves. The changes could make it easier to pay for school fees, airline tickets, hotels, online subscriptions, software and other services priced in US dollars. According to a September 2026 report by Nairametrics, several major banks have increased their international spending limits after years of restrictions linked to foreign exchange shortages.

Which Banks Increased Their Limits?
The banks mentioned include GTBank, FirstBank, Zenith Bank, UBA and Stanbic IBTC. Their limits vary depending on the bank and card type.
• GTBank: Quarterly international spending limit increased to $40,000, from $20,000 in August and $6,000 in May 2026.
• FirstBank: Naira Mastercard supports international POS and online transactions up to $10,000 quarterly, while ATM withdrawals are up to $1,000 daily.
• Zenith Bank: International transactions of up to $50,000 annually on its naira cards.
• UBA: World USD card allows up to $20,000 for POS transactions and $10,000 online.
• Stanbic IBTC: International transaction limit increased to $8,000 quarterly, from less than $5,000 previously.

Why Are Banks Raising the Limits?
The changes are linked to improving foreign exchange conditions in Nigeria. During periods of severe FX shortages, banks had limited access to dollars, leading to tighter international card limits.
Nairametrics reports that improved FX liquidity and Central Bank of Nigeria reforms have helped strengthen dollar availability in the formal market. However, the increase in limits does not mean Nigeria's FX challenges have completely disappeared.

Why Customers Should Care
Higher dollar card limits in Nigeria give individuals and businesses greater flexibility when making international payments. Students can pay education-related expenses, travellers can handle flights and accommodation, while professionals and businesses can pay for software, advertising, subscriptions and other international services. However, a higher spending limit does not mean transactions are free. Exchange rates, bank charges and other fees can still increase the final naira cost.

What It Means for Nigerians
The increase in bank spending limits is a practical development for Nigerians who make legitimate international payments. It reduces some of the difficulties associated with tighter limits during periods of FX scarcity. Nairametrics also reported that Nigeria's external reserves had risen above $54 billion by September 3, 2026, supporting the broader picture of improved foreign exchange liquidity. For customers, the key lesson is simple: check your bank's current international transaction limit before making a large payment. Limits can vary by card type and transaction channel and may change as market conditions evolve.