The Central Bank of Nigeria has issued a fresh warning to Nigerians. The apex bank says both versions of the standard N100 note remain valid and anyone who rejects them risks legal consequences.
ABUJA, NIGERIA — The Central Bank of Nigeria, CBN, has warned members of the public, traders and businesses against rejecting the standard N100 note, reaffirming that all approved versions of the denomination remain legal tender in Nigeria. According to the bank, refusing to accept the note for transactions violates the country’s currency laws.
The CBN said both the older and newer versions of the standard N100 note remain valid for use in commercial transactions. The bank urged Nigerians to accept the notes without discrimination, stressing that they continue to circulate as recognised legal tender. According to the apex bank, there has been no directive withdrawing either version from circulation.
In its statement, the Central Bank of Nigeria reminded the public that the Central Bank of Nigeria Act, 2007 provides that every Naira note issued by the bank remains legal tender until it is officially withdrawn. The CBN added that individuals or businesses that reject valid Naira notes may face sanctions under the law. The bank encouraged Nigerians to report cases where people refuse to accept genuine currency.
The clarification follows reports that some traders and service providers have refused to accept certain versions of the N100 note, creating confusion during transactions. The CBN has repeatedly issued public advisories in recent years to address misinformation surrounding the status of various Naira denominations and to promote confidence in the country’s currency.
The development means Nigerians should continue using both versions of the standard N100 note for everyday transactions without concern. It also reinforces the CBN’s commitment to maintaining confidence in the national currency while ensuring that businesses and members of the public comply with existing laws governing the use of legal tender in Nigeria.
