CBN Provides Fresh Update On Status Of ₦100 Notes In Nigeria

The Central Bank of Nigeria (CBN) has reaffirmed that the ₦100 banknote remains a valid legal tender and must continue to be accepted for all transactions across the country.

According to a statement released by the apex bank on Wednesday, both the standard ₦100 note and the commemorative ₦100 banknote are still recognised as lawful currency and remain acceptable for payments nationwide.

The clarification was issued following reports that some individuals, businesses, and other stakeholders had expressed uncertainty over the continued validity of the ₦100 notes.

The statement, signed by the CBN Acting Director of Corporate Communications, Hakama Sidi-Ali, stressed that the commemorative ₦100 note, introduced to mark Nigeria’s centenary celebration, was not designed to replace the existing standard ₦100 banknote.

The apex bank cautioned Nigerians, businesses, financial institutions, and other economic operators against refusing to accept the ₦100 notes, describing such actions as a violation of the provisions of the CBN Act.

The bank further warned that appropriate enforcement measures would be taken against any individual or organisation found rejecting the currency unlawfully.

The CBN urged the public to continue accepting both versions of the ₦100 note in all legitimate transactions, noting that confidence in the nation’s currency must be maintained.