CBN Confirms Standard ₦100 Note Remains Legal Tender
The Central Bank of Nigeria (CBN) has clarified that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country.
The clarification follows reports that some individuals, businesses, and other stakeholders have been rejecting the standard ₦100 note over concerns about its validity.
In a statement issued on Tuesday, the CBN explained that both the commemorative ₦100 banknote, introduced to mark Nigeria’s centenary, and the regular ₦100 banknote are legal tender. It stressed that the commemorative note did not replace the standard version.
The apex bank warned that rejecting the standard ₦100 note is a violation of the provisions of the CBN Act and undermines public confidence in the nation’s currency. It added that appropriate enforcement measures would be taken against any individual or organisation found violating the law.
The CBN reaffirmed its commitment to protecting the integrity of the naira, ensuring confidence in all duly issued banknotes, and promoting the smooth circulation of currency nationwide. It also urged members of the public to accept all banknotes officially issued by the Bank and to seek clarification through its official communication channels whenever necessary.
