 has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote.){kind=link}
CBN Warns Nigerians Against Rejecting ₦100 Notes
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.
The apex bank issued the clarification following reports that some businesses and individuals have been rejecting the standard ₦100 note over concerns about its validity after the introduction of the commemorative version.
The clarification was contained in a statement signed by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.
According to the CBN, the commemorative ₦100 note, introduced in 2014 to mark Nigeria’s centenary celebration, did not replace the standard ₦100 note.
Both versions remain valid and are legally recognized for use in commercial and financial transactions nationwide.
”For the avoidance of doubt, the CBN hereby reiterates that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide,” the statement said.
The bank warned that rejecting any duly issued ₦100 banknote constitutes a violation of the provisions of the CBN Act and undermines public confidence in the national currency. It stressed that individuals, businesses, financial institutions, and other economic agents are obligated to accept both versions of the note.
The CBN further cautioned that it would not hesitate to enforce appropriate sanctions against any person or organisation found to be rejecting the banknotes in breach of the law.
To ensure smooth circulation of the currency, the apex bank directed financial institutions to continue issuing both the standard and commemorative ₦100 notes through approved channels and urged members of the public to disregard misinformation suggesting that either version had been withdrawn.
The bank reiterated its commitment to safeguarding the integrity of the naira, promoting public confidence in all duly issued banknotes, and ensuring seamless currency circulation across the country.