Review of Spending Limits on Naira Denominated Cards



Thursday, July 9, 2015 12:00PM / First Bank

This is to remind you of the Central Bank of Nigeria (CBN) decision to reduce the FX Spending limit on Naira denominated cards from $150,000 to $50,000 per annum.

This means that you can spend up to $50,000 in a year using your First Bank Naira Denominated Cards (Naira MasterCard, Naira Credit Card, Naira Visa Prepaid Card) when aboard (ATMs, POS and WEB).

In  addition, the daily cash withdrawal limit for a Naira Denominated Card has also been reduced to $300 per day.

Please note that the DBN will be tracking the use of Naira denominated cards abroad; it is therefore important to operate within the approved limit as violators would be sanctioned by the Central Bank of Nigeria.




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