The Central Bank of Nigeria on Wednesday reaffirmed that both the standard and commemorative ₦100 banknotes remain legal tender, warning against reports of their rejection by members of the public and businesses across the country.
In a statement signed by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank said the commemorative ₦100 note introduced to mark Nigeria’s centenary did not replace the existing standard design.
“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 read.
The bank cautioned individuals, businesses, financial institutions and other economic agents against refusing the standard ₦100 note, stressing that such actions contravene the provisions of the CBN Act and could erode public confidence in the national currency.
“The CBN strongly cautions individuals, businesses, financial institutions, and other economic agents against rejecting the standard ₦100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency,” the statement added.
The apex bank reiterated its commitment to preserving the integrity of the naira and ensuring the smooth circulation of all duly issued banknotes. It also urged members of the public seeking clarification on the status of any currency denomination to contact the CBN through its official communication channels.
