The Central Bank of Nigeria (CBN) has reassured Nigerians that both the standard ₦100 banknote and the commemorative ₦100 note remain valid for all transactions across the country. The clarification follows reports that some traders, businesses and even financial institutions have been rejecting the standard ₦100 note over concerns that it is no longer legal tender.
In a statement issued on Wednesday, the apex bank dismissed the claims, stressing that there has been no change to the legal status of either version of the ₦100 banknote. According to the CBN, the commemorative ₦100 note, introduced in 2014 to mark Nigeria’s centenary celebration, was designed to circulate alongside the existing standard ₦100 note and was never intended to replace it. The Bank emphasized that both notes remain legal tender and should be accepted for all cash transactions nationwide.
The CBN warned that refusing to accept either of the notes is a violation of the Central Bank of Nigeria Act and could attract appropriate enforcement measures. It noted that such practices not only create unnecessary confusion among the public but also undermine confidence in the nation’s currency, urging businesses and members of the public to support efforts aimed at preserving the integrity of the naira and ensuring its seamless circulation across the country.
Reaffirming its commitment to a stable and efficient payment system, the apex bank encouraged Nigerians who have questions about the validity of any denomination to seek clarification through its official communication channels rather than relying on misinformation. The statement, signed by the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, serves as a reminder that all CBN-issued ₦100 banknotes—whether standard or commemorative—remain valid and must be accepted wherever cash payments are made.
