The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender, warning that individuals, businesses and institutions that refuse to accept it are violating the law and risk enforcement.
In a statement issued on Wednesday, the apex bank said it had received reports of the rejection of the standard ₦100 note due to misconceptions about its legal status.
The CBN clarified that both the standard ₦100 banknote and the commemorative ₦100 note introduced to mark Nigeria’s centenary remain valid for all transactions across the country.
It explained that the commemorative note was issued alongside, not in place of, the existing ₦100 banknote.
The bank stressed that rejecting the standard ₦100 note contravenes the provisions of the CBN Act, warning that offenders could face appropriate enforcement measures.
The CBN reiterated its commitment to safeguarding the integrity of the naira and urged Nigerians to accept all banknotes officially issued by the apex bank.
