₦100 Standard Banknotes Remain Legal Tender -CBN
The Central Bank of Nigeria (CBN) has warned members of the public, businesses, and other stakeholders, not to reject the standard ₦100 banknote, stating that it still remains a legal tender.
In a statement by the bank’s Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, the apex bank reiterates that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide.
According to the bank, the commemorative ₦100 banknote, which was introduced to mark Nigeria’s centenary, did not replace the existing standard ₦100 banknote.
It strongly cautions individuals, businesses, financial institutions, and other economic agents against rejecting the standard ₦100 banknote. Such rejection constitutes a violation of the provisions of the CBN Act and undermines 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 Bank remains committed to safeguarding the integrity of the Naira, ensuring confidence in all duly issued banknotes, and promoting smooth currency circulation across the country.
Accordingly, members of the public are urged to accept and transact with all banknotes legally issued by the Central Bank of Nigeria.
For further clarification, members of the public are also advised to contact the CBN through its official communication channels.
