‎CBN reaffirms ₦100 notes as legal tender nationwide ‎

‎Abuja — The Central Bank of Nigeria (CBN) has clarified that both the standard ₦100 banknote and the commemorative ₦100 note remain legal tender and must be accepted for transactions across the country.
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‎The clarification followed reports that some individuals, traders, businesses, and other stakeholders have been rejecting the standard ₦100 note over concerns that it is no longer valid for circulation.
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‎In a statement issued by the acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said there was no basis for the rejection of the standard ₦100 note, stressing that it remains a valid means of payment under Nigerian law.
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‎According to the CBN, the confusion appears to stem from the introduction of the commemorative ₦100 banknote, which was launched in 2014 to mark Nigeria’s centenary celebrations.
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‎The bank explained that the commemorative note was introduced alongside the existing standard ₦100 note and was never intended to replace it.
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‎“The commemorative ₦100 banknote did not replace the existing standard ₦100 banknote,” the statement said, adding that both versions remain legal tender and should be accepted for all transactions nationwide.
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‎The CBN warned individuals, businesses, financial institutions, and other economic agents against refusing the standard ₦100 note, noting that such actions violate provisions of the CBN Act and could undermine public confidence in the national currency.
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‎The apex bank further stated that it would not hesitate to take enforcement action against any person or organisation found rejecting the note without justification.
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‎The clarification comes amid efforts by the CBN to address misinformation surrounding the status of various naira denominations and to ensure confidence in Nigeria’s currency system.
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‎The bank urged members of the public to continue using all legally issued banknotes for their daily transactions.
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