By Seun Ibiyemi
The Central Bank of Nigeria (CBN) has warned banks, businesses and members of the public against rejecting the standard ₦100 banknote, reaffirming that both the regular and commemorative versions of the denomination remain legal tender across the country.
The apex bank issued the warning in a statement signed by its Acting Director of Corporate Communications, Hakama Sidi-Ali, following reports that some individuals, commercial establishments and financial institutions had refused to accept the standard ₦100 note over doubts about its validity.
According to the CBN, the commemorative ₦100 banknote introduced to mark Nigeria’s centenary celebration was issued to circulate alongside the existing standard ₦100 note and was never intended to replace it.
The Bank stressed that both versions remain valid for all financial transactions and must be accepted nationwide.
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It cautioned that the refusal to accept either of the banknotes constitutes a violation of the Central Bank of Nigeria Act and could attract regulatory sanctions.
The CBN said rejecting legally issued banknotes undermines public confidence in the naira and disrupts the smooth circulation of currency within the economy.
Reaffirming its commitment to maintaining the integrity of Nigeria’s currency, the apex bank urged Nigerians to continue accepting and using all CBN-issued banknotes for payments and commercial transactions.
The Bank also encouraged members of the public seeking further clarification on the status of any banknote to contact the CBN through its official communication channels.
