CBN Reaffirms Status of Standard ₦100 Note as Legal Tender Amid Rejection Reports

​The Central Bank of Nigeria (CBN) has issued a stern warning to the public, businesses, and financial institutions regarding the ongoing rejection of the standard ₦100 banknote. The apex bank emphasized that this denomination remains valid legal tender and that refusing to accept it is a violation of the CBN Act.

​The clarification follows widespread reports of traders, transport operators, and retail businesses refusing to accept the standard ₦100 note. This resistance appears to be driven by confusion regarding its legal status, particularly following the introduction of the commemorative ₦100 banknote in 2014, which marked Nigeria’s centenary.

​In a press statement released on Wednesday, July 8, 2026, the Acting Director of Corporate Communications, Hakama Sidi-Ali, clarified that the commemorative note was introduced alongside the existing currency, not as a replacement.

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​Key Points for the Public:

• ​Dual Validity: Both the standard ₦100 banknote and the commemorative centenary ₦100 banknote are fully authorized for use in all financial transactions across the country.

• ​Legal Consequences: The CBN reiterated that rejecting any legally issued banknote undermines confidence in the national currency. Individuals and businesses found to be in breach of these regulations risk enforcement measures as prescribed by the CBN Act.

• ​Official Mandate: The bank remains the sole issuer of legal tender in Nigeria. It has not issued any directive to withdraw the standard ₦100 note from circulation.

• ​Public Cooperation: Citizens are encouraged to continue using all legitimate banknotes for their daily business activities and are advised to reach out to the CBN through official channels should they require further clarification.

​The CBN remains committed to safeguarding the integrity of the Naira and ensuring the seamless flow of currency throughout the nation’s economy. Businesses and financial institutions are expected to educate their staff and customers to ensure full compliance with this directive.