The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country, following reports that some businesses and individuals have been rejecting it.
In a statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank clarified that both the standard ₦100 note and the commemorative ₦100 note introduced to mark Nigeria’s centenary are valid legal tender. The commemorative note did not replace the standard version, and both are expected to circulate side by side.
The CBN warned that refusing to accept the standard ₦100 note is a violation of the CBN Act and undermines public confidence in the national currency. It urged individuals, businesses, financial institutions, and other economic agents to stop rejecting the note and comply with the law.
The clarification was issued to dispel growing confusion and rumours surrounding the validity of the standard ₦100 note. The bank stressed that all ₦100 banknotes issued by the CBN remain valid and should continue to be used for everyday transactions nationwide
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