The Central Bank of Nigeria (CBN) has made it clear that both the country’s commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and
must be accepted for all transactions nationwide.
A statement today, July 8, by the spokesperson of the CBN, Hakama Sidi-Ali said that the commemorative ₦100 banknote, which was introduced to mark Nigeria’s centenary did not replace the existing standard ₦100 banknote.
“The CBN strongly cautions individuals, businesses, financial institutions and other
economic agents against rejecting the standard ₦100 banknote.
“Such rejection constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency.
“The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach.
“The Bank remains committed to safeguarding the integrity of the Naira, ensuring confidence in all duly issued banknotes and promoting smooth currency circulation across the country.
“Accordingly, members of the public are urged to accept and transact with all banknotes
legally issued by the Central Bank of Nigeria.
“For further clarification, members of the public are also advised to contact the CBN through its official communication channels.”
