The Central Bank of Nigeria (CBN) has cautioned the public, businesses, and financial institutions against rejecting the standard ₦100 banknote, stressing that it remains legal tender alongside the commemorative ₦100 note.
The warning followed reports of confusion over the note’s validity, with some individuals and businesses refusing to accept it.
In a statement issued Wednesday by Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank clarified that both the standard and commemorative ₦100 notes are valid for transactions nationwide.
“For the avoidance of doubt, the CBN hereby 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,” the statement read.
The commemorative ₦100 note was introduced in 2014 to mark Nigeria’s centenary but was never intended to replace the standard version.
The CBN warned that rejecting the standard ₦100 note violates the provisions of the CBN Act and undermines confidence in the naira, adding that enforcement measures would be applied against violators.
The bank reaffirmed its commitment to safeguarding the integrity of the naira and urged Nigerians to accept all banknotes legally issued by the CBN.
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