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GTBank Wins Euromoney Awards

GTBank Wins Euromoney Awards

Lagos, Nigeria - July, 2017 Guaranty Trust Bank Plc (GTBank) said it was recently recognised as ‘Nigeria’s Best Bank & Africa’s Best Bank for SMEs’ during the 2017 Euromoney Awards which held in London. Now in its 26th year, the Euromoney Awards for Excellence covers more than 20 global product categories, best-in-class awards and the best banks in over 100 countries around the world by recognising institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its recipients, Euromoney combines quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers. According to a statement while commenting on the award, Managing Director/CEO of GTBank, Segun Agbaje said: “We are honored to win the Best Bank in Nigeria award a record eight times and to be recognised as Africa’s Best Bank for SMEs. These awards reflect our progress in building... Read More

Central Bank Reviews spending limit on Naira MasterCard

Lagos - April, 2015

As part of Central Bank of Nigeria’s (CBN) effort to check unrestrained usage of foreign currency in conducting business in Nigeria, the Central Bank of Nigeria has reviewed the foreign exchange spending limit on Naira automated teller machine (ATM) cards.

In line with the review, which takes immediate effect, users of such cards as the Naira MasterCard have been advised to limit their spending to only $50,000 per annum, from $150,000 previously.

Already the CBN has directed all the banks to advise their customers to ensure strict compliance as any violation would be met with stiff sanctions.

With the review, ATM card users cannot spend more than $50,000 in a year during their stay abroad or when shopping online at any foreign stores, ATMs and point of sale.

Similarly, the CBN has also reduced the daily cash withdrawal limit for ATM card users to a ceiling of $300.

Please see below the new limits for both spending using your Naira MasterCard and cash withdrawal abroad:

  Old Limit New Limit
FX Annual Spending Limit $150,000.00 $50,000.00
ATM Cash Withdrawal Limit $2,500.00 $300.00

 

Source: www.premiumtimesng.com

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