CBN Warns Against Rejecting Standard 100 Naira

The Central Bank of Nigeria (CBN) has warned businesses, the public, and other stakeholders not to reject the standard ₦100 banknote, stressing that it remains a valid means of payment across the country. The standard ₦100 banknote is recognised as legal tender, and refusing to accept it breaks the law. The standard ₦100 banknote continues to hold the same legal status as the commemorative version.

The apex bank issued the warning after receiving reports that some individuals and commercial organisations had refused to accept the note because they wrongly believed it was no longer valid. According to the CBN, this misunderstanding could weaken public trust in the Naira and affect confidence in Nigeria’s currency system.

“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 read.

The CBN also explained that the commemorative ₦100 banknote, which it introduced during Nigeria’s centenary celebration, did not replace the existing standard ₦100 banknote. Instead, both notes continue to circulate together as official legal tender.

The statement, signed by Hakama Sidi-Ali (Mrs.), Acting Director of Corporate Communications, made it clear that anyone who refuses the note violates the provisions of the CBN Act. “The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach,” the statement added.

The Central Bank of Nigeria reaffirmed its commitment to protecting the integrity of the Naira and ensuring that all officially issued banknotes remain in smooth circulation. It also encouraged Nigerians to accept every banknote issued by the CBN and seek further information through the bank’s official communication channels.

Will this warning help stop the rejection of the standard ₦100 banknote across Nigeria?