The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 note remain legal tender and must be accepted for all transactions across the country.
Gatekeepers News reports that the clarification followed reports that some individuals and businesses had begun rejecting the standard ₦100 note over concerns about its validity.
In a statement issued by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank explained that the commemorative ₦100 banknote, introduced in 2014 to mark Nigeria’s centenary, did not replace the existing standard ₦100 note. It stressed that both versions remain valid and are recognised as legal tender nationwide.
The CBN warned individuals, businesses, financial institutions and other economic agents against refusing to accept the standard ₦100 note, stating that such actions violate the provisions of the CBN Act and undermine public confidence in the national currency. The bank added that it would enforce appropriate sanctions against anyone found rejecting the note.
The apex bank urged Nigerians to continue accepting and transacting with all banknotes legally issued by the CBN and advised members of the public seeking further clarification to use its official communication channels.
It reiterated its commitment to maintaining the integrity of the naira and ensuring the smooth circulation of the country’s currency.
