Apex bank says both the commemorative and standard ₦100 banknotes remain legal tender, warns violators risk sanctions.
The Central Bank of Nigeria (CBN) has warned Nigerians, businesses and financial institutions against rejecting the standard ₦100 banknote, insisting that it remains a valid legal tender nationwide.
In a statement signed by its Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank clarified that both the commemorative ₦100 note introduced for Nigeria’s centenary and the standard ₦100 note are legal tender and must be accepted for all transactions.
The CBN explained that the commemorative note was not introduced to replace the standard version, stressing that both are expected to circulate simultaneously.
The bank warned that refusing to accept the standard ₦100 note violates the provisions of the CBN Act and could attract enforcement measures against offenders.
It urged traders, transport operators, businesses and the general public to accept all banknotes officially issued by the CBN, reaffirming its commitment to protecting the integrity of the naira and maintaining public confidence in the national currency.