The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard ₦100 banknote, reaffirming that it remains legal tender across the country.
The apex bank issued the clarification following reports that some individuals and businesses had refused to accept the standard ₦100 note due to uncertainty over its status after the introduction of the commemorative ₦100 banknote.
In a statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the CBN explained that the commemorative ₦100 note, introduced in 2014 to mark Nigeria’s centenary, was issued alongside the standard ₦100 note and did not replace it.
According to the bank, both the commemorative and standard ₦100 banknotes remain valid for all transactions nationwide.
The CBN cautioned that rejecting the standard ₦100 note constitutes a violation of the CBN Act and warned that appropriate enforcement measures would be taken against individuals or organisations found to be refusing the note.
The apex bank reaffirmed its commitment to protecting the integrity of the naira, maintaining public confidence in all duly issued banknotes, and ensuring the smooth circulation of currency across Nigeria.
The CBN also urged Nigerians to continue accepting all banknotes officially issued by the Bank and advised anyone seeking clarification to use its official communication channels.
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