The Central Bank of Nigeria is stepping in to clear up confusion around the N100 note.
In a statement released Wednesday, the apex bank said both the regular N100 banknote and the commemorative N100 note printed for Nigeria’s centenary are valid legal tender. They must be accepted for payments anywhere in the country.
The clarification follows reports that some traders, businesses and members of the public have started turning down the standard N100 note, claiming it is no longer valid.
Acting Director of Corporate Communications, Hakama Sidi Ali, said the rejection has no basis. According to the CBN, the commemorative note was introduced to mark Nigeria’s 100 years, not to replace the existing standard note. Both versions remain in circulation and carry the same value.
The bank warned that refusing the standard N100 note breaks the CBN Act and damages trust in the naira. Individuals, businesses, banks and other economic players who reject it could face enforcement action.
“The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach,” the statement said.
The CBN noted that rejecting genuine notes can disrupt trade, confuse consumers, and weaken confidence in the currency. It urged Nigerians to accept all banknotes officially issued by the CBN without discrimination.
For questions about any banknote, the public was advised to reach out through the CBN’s official channels.
