The Central Bank of Nigeria (CBN) has clarified that the standard ₦100 banknote remains legal tender, warning that individuals and businesses rejecting the note risk sanctions under the law.
    
The clarification followed reports that some traders, businesses and members of the public had refused to accept the standard ₦100 note over concerns that it had been replaced by the commemorative ₦100 banknote introduced to mark Nigeria’s centenary.
   
In a statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said both the commemorative and the standard ₦100 banknotes remain valid legal tender and must be accepted for all transactions across the country.
   
The CBN explained that the commemorative ₦100 note was introduced to celebrate Nigeria’s centenary and was never intended to replace the existing standard ₦100 note.
   
It warned that refusing to accept the standard ₦100 note violates the provisions of the CBN Act and could erode public 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 statement said.
   
The apex bank reiterated its commitment to preserving the integrity of the naira, maintaining public confidence in all duly issued banknotes and ensuring the smooth circulation of currency nationwide.
    
It urged Nigerians to accept all banknotes legally issued by the CBN and advised members of the public seeking further clarification to contact the Bank through its official communication channels.