The Central Bank of Nigeria (CBN) has threatened enforcement action against anyone refusing to accept the standard N100 banknote.
CBN's threat follows reports of rejection of the note by members of the public, businesses and other stakeholders.
In a press statement dated 8 July 2026 and signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN said the rejections appeared to stem from doubts about whether the note remained legal tender.
Moving swiftly to dispel the doubts, the bank confirmed that both the standard N100 banknote and the commemorative N100 note introduced for Nigeria's centenary remain fully valid and must be accepted for all transactions nationwide.
READ ALSO: Youth Group Urges Tinubu to Pause NYSC Reforms
It stressed that the commemorative version did not replace the standard note as both remain in circulation simultaneously.
The CBN warned that refusing to accept either note constitutes a violation of the CBN Act and undermines confidence in the national currency.
"The Bank will not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach," the statement said.
Members of the public were urged to accept and transact with all banknotes legally issued by the CBN, and to contact the bank through its official channels for any further clarification.
0 Comments