CBN Warns Against Rejecting Standard ₦100 Notes, Confirms All ₦100 Banknotes Remain Legal Tender

The Central Bank of Nigeria has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote remain valid legal tender across Nigeria, warning that any refusal to accept either note violates the law and could attract regulatory sanctions.
In a statement signed by Hakama Sidi-Ali, Acting Director of Corporate Communications, the apex bank said it had become aware of reports indicating that some individuals, businesses and other stakeholders were rejecting the standard ₦100 banknote over misconceptions about its legal status.
The CBN clarified that the commemorative ₦100 banknote, introduced to celebrate Nigeria’s centenary, was never intended to replace the existing standard ₦100 note. Rather, both versions were officially issued by the Bank and continue to circulate simultaneously as legal tender for all financial transactions nationwide.
The Bank stressed that every legitimately issued ₦100 banknote retains its full legal value and must be accepted without discrimination in commercial, financial and personal transactions throughout the country.
According to the CBN, the rejection of the standard ₦100 note constitutes a breach of the provisions of the CBN Act, undermines public confidence in the national currency and disrupts the smooth circulation of cash within the economy.
The apex bank therefore issued a strong warning to individuals, businesses, financial institutions and other economic agents, urging them to immediately discontinue the practice of refusing the standard ₦100 banknote.
It emphasized that appropriate enforcement measures would be taken against any individual or organisation found violating the law by rejecting any legally issued Nigerian banknote.
The CBN reaffirmed its commitment to preserving the integrity of the naira, strengthening public confidence in the nation’s currency and ensuring the seamless circulation of all duly issued banknotes across the country.
The Bank also urged members of the public to continue accepting and transacting with all banknotes officially issued by the Central Bank of Nigeria, while advising anyone requiring further clarification to contact the CBN through its official communication channels.