GTBank joins Standard Chartered, others to suspend foreign transactions on naira Mastercard

International transactions on Guaranty Trust Bank (GTBank) naira Mastercard have been suspended by the financial institution indicating banks are still struggling with foreign exchange (forex) scarcity.

A notice from the bank received by customers and obtained by Ripples Nigeria showed that the naira Mastercard would be blocked from conducting foreign transactions from Saturday, December 31, 2022.

Also, the naira Mastercard will not perform international Point of Sales (POS) transactions, as well as Automated Teller Machine (ATM).