By Oluwakemi Kindness
The Central Bank of Nigeria (CBN) on Wednesday clarified that the standard ₦100 banknote remains legal tender and must be accepted for all transactions across the country.
In a statement by Hakama Sidi-Ali, Acting Director of Corporate Communications, the apex bank says the clarification followed reports that some individuals and businesses had been rejecting the standard ₦100 note over concerns about its validity.
The CBN explained that the commemorative ₦100 banknote, introduced to mark Nigeria’s centenary, did not replace the standard ₦100 banknote.
It said both versions remain valid legal tender and should be accepted nationwide.
The bank warned that rejecting the standard ₦100 note is a violation of the CBN Act and undermines public confidence in the naira.
It added that appropriate enforcement measures would be taken against any individual or organisation found refusing the note.
The CBN urged Nigerians to continue accepting all banknotes legally issued by the apex bank and advised members of the public seeking further clarification to use its official communication channels.
