The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender across the country, warning individuals, businesses and financial institutions against refusing the note in commercial transactions.
In a press statement issued on July 8, 2026, the apex bank said it had received reports that some members of the public and businesses were rejecting the standard ₦100 note due to uncertainty over its legal tender status.
The CBN clarified that both the standard ₦100 banknote and the commemorative ₦100 banknote remain valid for all transactions in Nigeria.
It explained that the commemorative note, introduced to mark Nigeria’s centenary, was issued alongside the existing design and did not replace the standard ₦100 note.
The regulator stressed that all legally issued ₦100 notes must be accepted for payments nationwide, adding that refusal to accept the standard banknote contravenes the provisions of the CBN Act and could undermine confidence in the country’s currency.
According to the Bank, enforcement measures may be taken against any individual, business or institution found to be rejecting the standard ₦100 banknote without lawful justification.
The CBN said the clarification forms part of its commitment to preserving public confidence in the naira and ensuring the smooth circulation of all legitimate banknotes issued by the apex bank.
The regulator urged members of the public, merchants, financial institutions and other economic participants to continue accepting all valid naira notes issued by the Central Bank of Nigeria in the course of business.
The Bank also advised anyone seeking additional clarification on the status of the ₦100 banknote to rely on its official communication channels for accurate information.
The latest clarification comes amid efforts by the CBN to strengthen confidence in Nigeria’s currency and eliminate misconceptions that could disrupt cash transactions across the country.
