The Central Bank of Nigeria (CBN) has reminded Nigerians that the standard ₦100 banknote remains legal tender and must be accepted for all transactions nationwide, warning that anyone who rejects it could face sanctions.
The clarification comes after reports that some individuals, businesses and organisations had refused to accept the standard ₦100 note, wrongly believing it became invalid following the introduction of the commemorative ₦100 banknote issued to mark Nigeria’s centenary.
In a statement signed by Acting Director of Corporate Communications, Hakama Sidi Ali, the CBN stressed that the commemorative note did not replace the existing ₦100 note. It affirmed that both versions remain valid and should circulate side by side.
The apex bank warned that rejecting the standard ₦100 note violates the CBN Act, undermines confidence in the naira and could attract enforcement measures. It also urged Nigerians to continue accepting all banknotes officially issued by the CBN and to seek clarification through the bank’s official communication channels if needed.