The Central Bank of Nigeria (CBN) has warned businesses and individuals against rejecting the standard N100 note, insisting it remains legal tender alongside the commemorative version and must be accepted for all transactions nationwide.
The warning follows reports that some traders and members of the public have been refusing the standard note, apparently confused over its legal status compared to the commemorative N100 note issued in 2014 to mark Nigeria’s centenary.
In a statement, the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, said both versions of the note carry full legal tender status and that the commemorative note was never meant to replace the standard one. She said the two continue to circulate side by side.
The apex bank described the rejection of the standard note as a breach of the CBN Act that threatens public confidence in the naira, and warned it would enforce the law against anyone found rejecting the note or encouraging others to do so.
“Refusal to accept any banknote issued by the Central Bank of Nigeria as legal tender is contrary to the law. Appropriate enforcement measures will be taken against any person or institution found contravening these provisions,” the statement said.
The CBN urged Nigerians to accept all banknotes it has officially issued and to ignore misinformation that could disrupt commercial activity or undermine confidence in the currency. It advised anyone seeking further clarification to reach out through its official channels.
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