Guaranty Trust Bank has announced that its naira cards will no longer be used for international transactions starting December 31, Reports.

This means customers using the GTBank mastercard can no longer use their naira debit cards to pay for transactions originated in foreign currency.

Nigerian Banks had in March reduced their monthly international spending limit on naira cards citing “current market realities on foreign exchange.”

The banks gradually reduced their monthly international spending limit on naira cards from $100/$120 to $50/$20.

In September, several banks suspended international transactions on naira cards. GTB announced its decision on Thursday.

Read Their Statement On The Email Inbox As Obtained By Below:

“Dear Customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS transactions effective 31st December 2022. Kindly note that you can use your GTBank dollar card for all your international spending requirements,” the bank said in an emailed memo.

“According to the bank, the dollar card allows ATM Withdrawal of $1,000 daily or the equivalent in the transaction’s local currency. It added that with the dollar card, there is no limit to international PoS or online transactions. There will also be no annual spending limit,” it said.

Nigeria has suffered an importation-fuelled foreign exchange crisis for years, but the scarcity worsened in 2021 with its export proceeds declining amid increaed supply for foreign exchange. The dollar exchanges for naira at about 440 a dollar at the official market and N740 a dollar at the parallel market.

As of December 28, Nigeria’s foreign reserve fell to $37billion, compared to $37.1 billion recorded as of November 28.

Source: BLOG

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What are all those people in the power positions up to?..

Just left for the government to nuke its citizens. Is the suffering not enough!?

B

Under APC, the naira became more useless than tissue paper!!! 😪

This government entered and made everything worst, can't believe it has come to this!

Big shame!!! 😔

Shame on this useless President, thunder go fire am every day

Another legacy of Buhari

Na person wet get money dey read am

Please who else is experiencing issues receiving transfers to their Zenith account, I’m beyond livid

Other banks to follow suit that is if most have not done that in a more subtle way...

omenka Corrinthians government
he rather supported the devil just to spite igbos

Hahahahahaha

Okay

Nigeria Banks are now useless even the dollar card is now capped. Soon dollar card will not be cancel

The past 8 years have been a terrible one for our country and we must pray that such never occurs again!

Under APC, the naira became more useless than tissue paper!!!

Fúck APC!!!

Wtf

APC must be voted out. Even the healthcare sector is now a disaster waiting to happen with the rate at which doctors are leaving the country. Meanwhile, these people will simply fly abroad if they need medical treatment. Yet some lunatics still want to vote for them.

Bank way no even care about him customer before them debit my #1000 till he remain #50

Buhari and APC

And some urchins will come here and support Failure

No wonder. Cudos to those clapping for the foolish goat faced Emiefele

[img]https://giffiles./217/217554.gif[/img]

You want to demand the dollar using your Naira account and at the same time complain about how the Naira is depreciating.

post=119546286:
Guaranty Trust Bank has announced that its naira cards will no longer be used for international transactions starting December 31, Reports.

This means customers using the GTBank mastercard can no longer use their naira debit cards to pay for transactions originated in foreign currency.

Nigerian Banks had in March reduced their monthly international spending limit on naira cards citing “current market realities on foreign exchange.”

The banks gradually reduced their monthly international spending limit on naira cards from $100/$120 to $50/$20.

In September, several banks suspended international transactions on naira cards. GTB announced its decision on Thursday.

Read Their Statement On The Email Inbox As Obtained By Below:

“Dear Customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS transactions effective 31st December 2022. Kindly note that you can use your GTBank dollar card for all your international spending requirements,” the bank said in an emailed memo.

“According to the bank, the dollar card allows ATM Withdrawal of $1,000 daily or the equivalent in the transaction’s local currency. It added that with the dollar card, there is no limit to international PoS or online transactions. There will also be no annual spending limit,” it said.

Nigeria has suffered an importation-fuelled foreign exchange crisis for years, but the scarcity worsened in 2021 with its export proceeds declining amid increaed supply for foreign exchange. The dollar exchanges for naira at about 440 a dollar at the official market and N740 a dollar at the parallel market.

As of December 28, Nigeria’s foreign reserve fell to $37billion, compared to $37.1 billion recorded as of November 28.

Source: BLOG

Even the so called dollar master card isn't available in any gtbank office