The Central Bank of Nigeria (CBN), on Wednesday warned that rejection of the standard ₦100 banknote by some members of the public, businesses, and other stakeholders, stressing that both the commemorative and the standard ₦100 banknote “remain legal tender in Nigeria and must be accepted for all transactions nationwide.”
The commemorative ₦100 banknote, introduced to mark Nigeria’s centenary, did not replace the existing standard ₦100 banknote.
According to a statement by Hakama Sidi-Ali (Mrs.), its Acting Director, Corporate Communications, the CBN strongly cautioned “individuals, businesses, financial institutions, and other economic agents against rejecting the standard ₦100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines 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.”
The CBN restated its commitment to safeguarding the integrity of the Naira, ensuring confidence in all duly issued banknotes, and promoting smooth currency circulation across the country.
It therefore urged members of the public “to accept and transact with all banknotes legally issued by the Central Bank of Nigeria.”
