The Central Bank of Nigeria (CBN) has officially clarified that the standard N100 banknote remains valid for use in all financial transactions across the country. This announcement comes after the apex bank received reports that certain businesses and individuals were refusing to accept the currency.
Acting Director of Corporate Communications, Hakama Sidi-Ali, explained that confusion likely arose regarding the status of the note. The CBN emphasized that both the special centenary commemorative version and the standard N100 banknote are fully authorized legal tender. The commemorative note was created to celebrate Nigeria’s centenary and was never intended to replace the standard version.
The regulatory body has warned that refusing to accept legitimate currency violates the CBN Act and damages trust in the national monetary system. The bank intends to enforce these rules strictly against any entity or person who denies the validity of the notes. Citizens and businesses are advised to continue using all legally issued banknotes to maintain stable circulation and public confidence in the Naira.
