The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 note remain legal tender, warning that refusing to accept either note is a violation of the law.
In a statement signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, the apex bank said it had received reports that some individuals, businesses, and financial institutions were rejecting the standard ₦100 banknote over concerns about its legal tender status.
The CBN clarified that the commemorative N100 banknote, introduced to mark Nigeria’s centenary, was issued alongside the existing standard ₦100 note and did not replace it. It stressed that both banknotes remain valid for all transactions nationwide.
The Bank warned that any individual, business, or financial institution that refuses to accept either of the notes could face enforcement actions, noting that such conduct contravenes the provisions of the CBN Act.
Reiterating its commitment to preserving the integrity of the naira, the CBN said it would continue to ensure the smooth circulation of all duly issued banknotes across the country.
The apex bank also urged members of the public to freely accept and transact with all CBN-issued banknotes, advising anyone requiring further clarification to contact the Bank through its official communication channels.