The Central Bank of Nigeria (CBN) has assured Nigerians that both the regular ₦100 banknote and the commemorative ₦100 note remain valid legal tender and should be accepted for all payments nationwide.
The apex bank issued the clarification following reports that some individuals, businesses and other stakeholders had started rejecting the standard ₦100 note over doubts about its validity.
In a statement signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, the CBN explained that the commemorative ₦100 note, which was introduced during Nigeria’s centenary celebration, was not designed to replace the existing ₦100 currency.
The bank stated that both versions of the note are officially recognised and remain in circulation.
“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 noted.
The CBN warned individuals, businesses, banks and other financial operators against refusing to accept the standard ₦100 note, describing such action as a breach of relevant provisions of the CBN Act.
It added that offenders could face appropriate sanctions for undermining confidence in the country’s currency system.
The apex bank further reaffirmed its commitment to preserving the integrity of the naira, ensuring public trust in legally issued banknotes and maintaining smooth currency circulation across Nigeria.
The CBN urged Nigerians to continue accepting all banknotes issued by the bank and advised members of the public to use its official communication platforms for further enquiries.