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CBN Reduces Spend Limits on Naira Cards | Diaspora Community. Welcome Back Home!

CBN Reduces Spend Limits on Naira Cards

April 15, 2015

In keeping you updated on regulatory modifications to your Fidelity Card usage, kindly be informed that 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 using your Naira denominated Fidelity Card 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. If you wish to access additional FX for your transactions, you may choose to open and fund your Fidelity USD account independently. For safe and continuous access to your funds, the Fidelity USD MasterCard and Visa Classic cards are readily available for request at all Fidelity Bank branches.

Thank you for Banking Lite with us.

 

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