Guaranty Trust Bank (GTBank) has doubled the quarterly international spending limit on its naira debit cards from $20,000 to $40,000, making it the first of Nigeria's 33 recapitalised commercial banks to reach this ceiling. GTBank raises its quarterly dollar spending cap Photo: GTbankSource: Getty ImagesThe bank said in the message:"The FX rate for International Payments on your GTBank Naira Card today, August 12, 2026, is $1/N1,370. The quarterly spending limit on your Naira Card is $40,000." Each increase has tracked improving conditions in Nigeria's foreign exchange market following reforms introduced by the Central Bank of Nigeria (CBN). Naira Rate on August 12, 2026The announcement coincides with continued movement in the Nigerian foreign exchange market.