The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country.
The apex bank also clarified that both the standard ₦100 note and the commemorative ₦100 banknote introduced to mark Nigeria’s centenary are valid legal tender and can be used interchangeably for payments nationwide.
The clarification followed reports that some individuals and businesses had begun rejecting the standard ₦100 note over concerns about its legal status.
According to the CBN, the commemorative ₦100 note was issued to celebrate Nigeria’s centenary and was never intended to replace the existing standard ₦100 banknote.
Both versions remain in circulation and carry the same legal status under Nigerian law. The bank warned that refusing to accept the standard ₦100 note violates the provisions of the CBN Act and could attract regulatory sanctions.
It urged individuals, businesses, financial institutions, traders, transport operators, and other members of the public to continue accepting both versions of the ₦100 note without discrimination.
The CBN also stated that rejecting any valid Nigerian banknote undermines public confidence in the national currency and disrupts normal commercial activities.
It warned that appropriate enforcement measures would be taken against anyone found unlawfully rejecting the standard ₦100 note.
