CBN Issues Fresh Warning as Nigerians Reject Standard ₦100 Note, Confirms It Remains Legal Tender

CBN Issues Fresh Warning as Nigerians Reject Standard ₦100 Note, Confirms It Remains Legal Tender

The Central Bank of Nigeria (CBN) has issued a strong public warning following reports that some Nigerians, businesses, traders, and other stakeholders have been rejecting the standard ₦100 banknote over claims that it is no longer legal tender.

The apex bank clarified that both the standard ₦100 note and the commemorative ₦100 banknote remain valid legal tender and must be accepted for all financial transactions across Nigeria.

Standard ₦100 Note Is Still Valid – CBN

In an official statement released on July 8, 2026, the CBN dismissed the circulating misinformation surrounding the standard ₦100 note.

According to the bank, the commemorative ₦100 note, introduced to celebrate Nigeria's Centenary, was never intended to replace the existing standard ₦100 banknote.

The CBN stressed that both versions of the currency have equal legal status and can be used interchangeably for payments nationwide.

CBN Warns Businesses Against Rejecting ₦100 Notes

The apex bank warned that refusing to accept the standard ₦100 banknote is a direct violation of the CBN Act and could attract regulatory sanctions.

The bank noted that such actions undermine public confidence in the Nigerian currency and disrupt the smooth circulation of cash across the country.

The CBN emphasized that it will not hesitate to enforce the law against any individual, business, financial institution, or organization found rejecting legally issued banknotes.

Public Urged to Accept All CBN-Issued Banknotes

To prevent confusion, the Central Bank urged Nigerians to continue accepting all banknotes officially issued by the CBN, including both versions of the ₦100 note.

The bank reaffirmed its commitment to protecting the integrity of the Naira, maintaining public confidence in Nigeria's currency, and ensuring efficient cash circulation throughout the country.

Citizens seeking additional clarification were advised to contact the CBN through its official communication channels.

Key Highlights

CBN confirms the standard ₦100 note remains legal tender.

The commemorative ₦100 note did not replace the standard ₦100 note.

Rejecting the standard ₦100 note violates the CBN Act.

Businesses and individuals who refuse the note risk enforcement actions.

Nigerians are encouraged to accept all banknotes officially issued by the CBN.

Frequently Asked Questions (FAQs)

Is the standard ₦100 note still legal tender in Nigeria?

Yes. The Central Bank of Nigeria has confirmed that the standard ₦100 banknote remains legal tender and is valid for all transactions nationwide.

Did the commemorative ₦100 note replace the standard ₦100 note?

No. The commemorative ₦100 note was introduced to celebrate Nigeria's centenary and does not replace the standard ₦100 banknote.

Can businesses refuse to accept the standard ₦100 note?

No. According to the CBN, rejecting the standard ₦100 note is a violation of the CBN Act and may result in enforcement action.

What should Nigerians do if their ₦100 note is rejected?

The CBN advises members of the public to report such incidents through its official communication channels for appropriate action.

Conclusion

The Central Bank of Nigeria has put an end to speculation by confirming that both the standard and commemorative ₦100 banknotes remain legal tender. Nigerians, businesses, and financial institutions are expected to accept both notes without discrimination, as failure to do so may attract legal consequences. The CBN says it remains committed to preserving confidence in the Naira and ensuring seamless currency circulation across the country.