The Central Bank of Nigeria (CBN) has clarified that the standard N100 banknote remains a legal tender and should be accepted for all transactions across the country.
Sponsored Ads
The clarification followed reports that some individuals, businesses and other organisations had refused to accept the standard N100 note over concerns about its validity.
Sponsored Ads
In a statement issued by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said both the standard N100 note and the commemorative N100 banknote remain valid and can be used for payments nationwide.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The CBN explained that the commemorative N100 note, introduced to mark Nigeria’s centenary, was not designed to replace the standard N100 banknote. According to the bank, both versions continue to circulate side by side and have equal legal status.
RELATED STORIES
Related Posts
The apex bank warned members of the public, businesses, financial institutions and other economic operators against refusing the standard N100 note. It said rejecting the note violates the provisions of the CBN Act and weakens public confidence in the national currency.
The bank also said it is prepared to take enforcement action against anyone or organisation found refusing to accept the standard N100 note during transactions.
The CBN added that it remains committed to protecting the integrity of the naira, maintaining public trust in all officially issued banknotes and ensuring the smooth circulation of currency across the country.
It urged Nigerians to continue accepting and using all banknotes issued by the Central Bank of Nigeria, including both the standard and commemorative N100 notes.
Comments are closed.