CBN WARNS AGAINST REJECTION OF STANDARD ₦100 NOTES

The Central Bank of Nigeria (CBN) has warned members of the public against rejecting the standard ₦100 banknote, stressing that both versions of the denomination remain valid legal tender across the country.
In a statement, the apex bank clarified that the existing standard ₦100 note and the commemorative edition are both officially recognised for transactions and must be accepted for payments.
The CBN expressed concern over reports that some individuals and businesses have refused to accept the standard ₦100 note, describing the practice as unlawful and contrary to the provisions of the CBN Act.
The bank reminded Nigerians that no person or organisation has the authority to reject any genuine naira note issued by the Central Bank, provided it remains legal tender.
It warned that individuals or businesses found refusing valid currency risk facing sanctions under relevant financial regulations.
The apex bank urged traders, transport operators, financial institutions, and the general public to continue accepting all genuine ₦100 notes and other valid naira denominations for transactions.
The CBN reaffirmed its commitment to maintaining confidence in the nation’s currency and advised members of the public to report cases of unlawful rejection of legal tender to the appropriate authorities.