The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 note remain legal tender across the country.
The clarification comes after reports that some businesses and members of the public had refused to accept the standard ₦100 note over uncertainty about its validity.
According to the apex bank, both versions of the currency are legally recognised and should be accepted for all financial transactions nationwide.
Commemorative note did not replace existing ₦100
In a statement signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, the CBN explained that the commemorative ₦100 note was introduced to mark Nigeria’s centenary celebration and was never intended to replace the existing standard ₦100 note.
The bank stressed that both notes remain in circulation and carry the same legal status under Nigerian law.
CBN warns against rejecting ₦100 notes
The apex bank warned individuals, businesses, financial institutions and other organisations against refusing the standard ₦100 banknote.
According to the CBN, rejecting any legally issued banknote violates the provisions of the CBN Act and could undermine public confidence in the country’s currency.
The bank also stated that appropriate enforcement measures could be taken against anyone found violating the law.
Public urged to accept all valid banknotes
The CBN reiterated its commitment to protecting the integrity of the naira and ensuring the smooth circulation of all legally issued banknotes.
It urged Nigerians to continue accepting both the standard and commemorative ₦100 notes for everyday transactions.
The apex bank also encouraged members of the public to seek clarification through its official communication channels whenever questions arise about Nigerian currency.