By By Elizabeth Ugbo
The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote remain legal tender across Nigeria. The clarification came after reports of traders and businesses rejecting the standard ₦100 note due to uncertainty about its validity. The apex bank issued the statement through its Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, urging Nigerians to continue accepting both notes for every transaction.
CBN Clarifies Status of ₦100 Banknotes
The CBN explained that the commemorative ₦100 banknote, introduced to celebrate Nigeria’s centenary, did not replace the standard ₦100 banknote.
According to the bank, both versions remain valid and carry the same legal status under Nigerian law.
“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 bank stressed that every individual, business and financial institution must accept both banknotes without discrimination.
Rejecting Standard ₦100 Note Violates the Law
The apex bank warned that rejecting the standard ₦100 note breaches the provisions of the CBN Act.
It added that such actions weaken public confidence in the naira and Nigeria’s financial system.
Furthermore, the CBN cautioned that it would enforce the law against any person or organisation that refuses to accept the standard ₦100 banknote.
CBN Reaffirms Commitment to the Naira
The CBN reaffirmed its commitment to protecting the integrity of the naira and maintaining confidence in all legally issued banknotes.
The bank also pledged to ensure the smooth circulation of currency across the country.
In addition, it advised Nigerians to continue accepting and using all banknotes issued by the CBN for commercial transactions.
Members of the public seeking further clarification should contact the CBN through its official communication channels.
Why the CBN Issued the Clarification
The CBN said it released the statement after receiving reports that some businesses and members of the public had rejected the standard ₦100 note.
According to the bank, the rejection stemmed from confusion over whether only the commemorative ₦100 note remains valid.
The apex bank insisted that both notes are legal tender and should circulate freely across Nigeria.
