The Central Bank of Nigeria (CBN) has clarified that both the commemorative ₦100 banknote and the standard ₦100 note remain legal tender in Nigeria and must be accepted for all transactions nationwide.
The clarification follows reports that some members of the public, businesses and other stakeholders have been rejecting the standard ₦100 note, apparently due to doubts about its continued legal-tender status.
In a statement on Wednesday, the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, said the commemorative ₦100, introduced to mark Nigeria’s centenary, did not replace the existing ₦100 note. The CBN strongly cautioned individuals, businesses, financial institutions and other economic agents against rejecting the standard note.
The Bank noted that such rejection constitutes a violation of the CBN Act and undermines confidence in the national currency, adding that it would not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach.
The CBN said it remains committed to safeguarding the integrity of the naira, ensuring confidence in all duly issued banknotes and promoting smooth currency circulation across the country.
While advising the public to accept and transact with all banknotes legally issued by the CBN, it also urged anyone with questions to contact the Bank through its official communication channels.
