The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender and warned that anyone refusing to accept it for transactions is acting contrary to the law.

In a statement issued by the Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said it had received reports that some individuals, businesses, and institutions were rejecting the standard ₦100 note due to doubts about its validity.

The CBN clarified that both the regular ₦100 banknote and the commemorative ₦100 note introduced to mark Nigeria’s centenary are valid and should be accepted for all transactions nationwide.

According to the bank, the commemorative ₦100 note was issued solely to celebrate Nigeria’s centenary and was never intended to replace the existing standard ₦100 note.

The apex bank warned that rejecting any legally issued ₦100 banknote violates the provisions of the CBN Act and undermines public confidence in the national currency.

It stressed that appropriate enforcement measures would be taken against any individual or organisation found to be refusing the standard ₦100 note.

The CBN reiterated its commitment to protecting the integrity of the naira and ensuring the smooth circulation of all legally issued banknotes across the country. It also urged Nigerians to accept all valid CBN-issued notes and contact the bank through its official communication channels for any clarification.