CBN Warns Against Rejection of Standard N100 Notes, Reaffirms Legal Tender Status

The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender, warning businesses, financial institutions and members of the public against rejecting the note over misconceptions about its validity.

In a statement issued on Wednesday by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank said its attention had been drawn to reports that some individuals and businesses were refusing to accept the standard ₦100 note due to doubts about its continued legal tender status.

The CBN clarified that both the commemorative ₦100 banknote, introduced to mark Nigeria’s centenary, and the standard ₦100 banknote remain valid for all transactions across the country.

“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 said.

It stressed that the commemorative ₦100 note did not replace the existing standard ₦100 banknote, dismissing claims suggesting otherwise.

The apex bank cautioned that rejecting the standard ₦100 note constitutes a violation of the provisions of the CBN Act and undermines public confidence in the national currency.

“The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach,” it said.

The CBN added that it remains committed to safeguarding the integrity of the naira, ensuring confidence in all duly issued banknotes and promoting smooth currency circulation nationwide.

It urged Nigerians to accept and transact with all banknotes legally issued by the Central Bank of Nigeria and advised anyone requiring further clarification to contact the Bank through its official communication channels.