Nigerian commercial bank bans ATM cards abroad, limit cash withdrawal to $100 per monthly

Nigerian banks recently announced a new policy regarding cash withdrawal and pegging the limit at $250 per month.

The policy which only affects Nigerians in diaspora, meant that they are not able to withdraw more than $250 from their personal account in a month.

In a new twist of event, one of Nigeria's foremost commercial banks, GTBank on Thursday suddenly shocked its customers in diaspora when it released a news that it has now pegged the Maximum withdrawal or spending limit at $100 per month, adding that cash withdrawal using the automatic teller machine ATM will now be available only in Nigeria.

Since the new police was announced, Nigerian students in diaspora has been thrown into fears on how they will be able to pay for their tuition fees, buy food, and get their allowances.