Thursday, 16 April 2015

CNB policies on spending limits of Debit Naira Card Usage for both local and international






The Central Bank of Nigeria (CBN) has recently reduced the annual international spend limit on your Card from $150,000 to $50,000.
Going forward, the amount you can now spend abroad  is $50,000 annually. Furthermore, the daily cash withdrawal limit abroad has also been reduced to $300.
Please see new transaction limits both home and abroad as they apply on your Fidelity Card.
Transaction Type Local International
Daily ATM Cash Withdrawal Limit
N150,000 $300
Daily POS Purchase Limit N1,000,000 N2,000,000 (Equivalent in any currency)
Daily Web Purchase/Payment Limit
N1,000,000 N1,000,000 (Equivalent in any currency)
Annual International Spend Limit

$50,000
These new limits take effect immediately and regretfully, extensions beyond those stated here cannot be granted.
Kindly understand that these measures are not intended to stifle your convenience but in compliance with a directive from CBN.

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