The Central Bank of Nigeria (CBN) has reminded the public that the standard ₦100 banknote remains legal tender and should be accepted for all financial transactions across the country.
The clarification comes after reports that some traders, businesses and other stakeholders have been refusing the standard ₦100 note because of concerns over its legal status.
In a statement signed by the Director of Corporate Communications, Hakama Sidi-Ali, the CBN dismissed the claims and explained that both versions of the ₦100 banknote—the long-standing standard note and the commemorative edition issued during Nigeria’s centenary celebrations—remain officially recognised and valid for use.
According to the bank, the commemorative ₦100 note was introduced solely to celebrate Nigeria’s centenary and was not designed to replace the existing standard ₦100 note.
The apex bank cautioned businesses, financial institutions and members of the public against rejecting the standard ₦100 banknote, noting that such actions breach the provisions of the CBN Act while also weakening public trust in the naira.
“The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach,” the statement said.
The CBN reiterated its commitment to protecting the integrity of the national currency, sustaining confidence in all officially issued banknotes and ensuring the smooth circulation of cash throughout the country.
It further advised Nigerians to continue accepting every banknote lawfully issued by the apex bank and encouraged anyone requiring additional clarification to contact the CBN through its official communication channels.
“Accordingly, members of the public are urged to accept and transact with all banknotes legally issued by the Central Bank of Nigeria.
“For further clarification, members of the public are also advised to contact the CBN through its official communication channels.”
