Saturday, May 14, 2016

Forex Palava: Heritage Bank Reduces Daily Spending Limit To $50

As Nigerians battle with the insensitivity of the Buhari-led administration as to the sudden increase in pump price of petrol, we are in for another round of hardship.


Going by paucity of Forex, many commercial banks have started reducing the daily spending on Naira denominated MasterCard. 

I woke up to receive a message from Heritage Bank, updating me on the latest development as to that. 

The message reads in parts:

"The daily spending limit on your Heritage Bank Naira MasterCard (Debit and prepaid) for international transaction on ATM/POS/WEB has been reduced to $50 per day. 
Please note that this is a temporary measure and our daily limits will change from time to time based on our existing foreign exchange reserves. 
You will be advised according as these changes occur in the future." 

See the screenshot below:



When will APC-led government stop suffering us?? 
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