CBN Warns Against Rejection of Standard ₦100 Notes, Affirms Legal Tender Status

The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote remain legal tender across the country, warning individuals and businesses against rejecting either version during transactions.

In a press statement issued on Wednesday, the apex bank said its attention had been drawn to reports that some members of the public, businesses and other stakeholders were refusing to accept the standard ₦100 note due to uncertainty over its legal tender status.

The CBN clarified that the commemorative ₦100 banknote, introduced to mark Nigeria’s centenary, did not replace the existing standard ₦100 note. It stressed that both versions remain valid for all transactions nationwide and must be accepted.

The Bank cautioned that rejecting the standard ₦100 banknote constitutes a violation of the provisions of the CBN Act and undermines public confidence in the national currency.

It warned that appropriate enforcement measures would be taken against any individual or institution found to be in breach of the law.

Reaffirming its commitment to maintaining the integrity of the naira, the CBN said it would continue to ensure public confidence in all duly issued banknotes while promoting seamless currency circulation across the country.

The apex bank therefore urged Nigerians, businesses, financial institutions and other economic stakeholders to accept and transact with all banknotes legally issued by the Central Bank of Nigeria.

The statement, signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, also advised members of the public seeking further clarification to contact the CBN through its official communication channels.