The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote remain legal tender and must be accepted for all transactions across the country.
In a press statement issued on today by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank said its attention had been drawn to reports that some individuals and businesses were rejecting the standard ₦100 note over concerns about its validity.
The CBN clarified that the commemorative ₦100 note, introduced to mark Nigeria’s centenary, did not replace the existing standard ₦100 banknote. It stressed that both versions are valid for use in commercial transactions nationwide.
The Bank warned individuals, businesses, financial institutions and other economic agents against rejecting the standard ₦100 note, stating that such actions violate the provisions of the CBN Act and undermine public confidence in the national currency.
According to the statement, the apex bank will not hesitate to take appropriate enforcement action against any person or organisation found to be rejecting the legally issued banknote.
The CBN reiterated its commitment to safeguarding the integrity of the naira, maintaining confidence in all duly issued banknotes and ensuring the smooth circulation of currency across the country.
It therefore urged members of the public to continue accepting and transacting with all banknotes legally issued by the Central Bank of Nigeria, while advising anyone seeking further clarification to contact the Bank through its official communication channels.
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