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CBN Clarifies ₦100 Banknote Status.
By Jonadab | DocuNews Central
The Central Bank of Nigeria (CBN) has issued an important clarification regarding the legal status of the standard ₦100 banknote, following reports that some businesses and members of the public have refused to accept the note during transactions.
In a press statement dated July 8, 2026, the apex bank emphasized that the standard ₦100 banknote remains legal tender throughout Nigeria. The clarification comes after increasing concerns that confusion surrounding the commemorative ₦100 note had led some traders, businesses, and financial institutions to reject the original version of the currency.
The CBN stressed that there is no legal basis for refusing the standard ₦100 banknote and warned that anyone found rejecting it may face enforcement actions under the provisions of the CBN Act.
Why the CBN Issued the Clarification
According to the Central Bank of Nigeria, its attention was drawn to reports indicating that some individuals and businesses were declining to accept the standard ₦100 banknote because they believed it had been replaced by the commemorative edition.
To remove every doubt, the apex bank explained that both the commemorative ₦100 banknote and the standard ₦100 banknote remain valid legal tender in Nigeria.
The bank noted that when the commemorative ₦100 note was introduced to celebrate Nigeria’s centenary, it was never intended to replace the existing standard ₦100 banknote. Instead, both versions were designed to circulate side by side and retain equal legal value.
This clarification means Nigerians are free to use either version of the ₦100 note for all financial transactions across the country.
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Standard ₦100 Note Must Be Accepted Everywhere
The CBN reiterated that every legally issued ₦100 banknote must be accepted for payments nationwide.
Whether a person is paying for goods at a market, settling transportation fares, purchasing fuel, or conducting banking transactions, the standard ₦100 note remains fully recognized under Nigerian law.
The apex bank emphasized that no trader, business owner, financial institution, or organization has the authority to reject the standard ₦100 banknote simply because a commemorative version also exists.
For millions of Nigerians who still possess the traditional ₦100 note, the clarification provides reassurance that their money remains valid without any need for exchange or replacement.
CBN Warns Against Rejecting Legal Tender
In its statement, the Central Bank strongly cautioned individuals, businesses, financial institutions, and other economic agents against refusing the standard ₦100 banknote.
According to the bank, rejecting a legally issued banknote undermines public confidence in Nigeria’s national currency and violates the provisions of the CBN Act.
The apex bank further warned that it will not hesitate to apply appropriate enforcement measures against any person or entity found violating the law by refusing the standard ₦100 note.
Although the statement did not specify the exact penalties that offenders could face, the warning signals the CBN’s determination to protect confidence in the Nigerian currency.
Commitment to Protecting the Naira
The Central Bank also reaffirmed its commitment to preserving the integrity of the Nigerian naira.
According to the statement, the bank remains dedicated to ensuring confidence in all duly issued banknotes while promoting the smooth circulation of currency throughout the country.
The CBN explained that maintaining trust in the naira is essential for Nigeria’s financial system and overall economic stability.
By clarifying the status of the ₦100 banknote, the bank hopes to eliminate unnecessary confusion and prevent disruptions in everyday commercial activities.
Public Advised to Continue Using Both ₦100 Notes
The CBN urged Nigerians to continue accepting and transacting with all banknotes that have been legally issued by the Central Bank of Nigeria.
Members of the public were advised not to rely on rumours or misinformation circulating on social media regarding the validity of any officially issued Nigerian currency.
Instead, the apex bank encouraged Nigerians seeking clarification to use only its official communication channels for accurate information.
This guidance is particularly important as false claims about Nigerian banknotes occasionally spread online, creating unnecessary panic among businesses and consumers.
Understanding the Two ₦100 Banknotes
Nigeria currently has two versions of the ₦100 banknote in circulation.
The first is the traditional standard ₦100 note that has been used for years across the country.
The second is the commemorative ₦100 banknote introduced to mark Nigeria’s centenary celebration.
While the commemorative version features additional design elements, both banknotes have exactly the same monetary value and remain legal tender.
The CBN stressed that the commemorative edition did not replace the standard note at any time.
What This Means for Nigerians
The clarification has practical implications for millions of Nigerians who conduct daily cash transactions.
Anyone holding the standard ₦100 note can continue using it without concern. Traders, transport operators, supermarkets, filling stations, banks, and other businesses are expected to accept the note for payments.
Businesses are also encouraged to educate their employees to avoid mistakenly rejecting valid currency.
For consumers, the statement provides certainty that they do not need to exchange the standard ₦100 note for the commemorative version.
DocuNews Central Analysis
The CBN’s clarification is expected to help restore confidence in cash transactions involving the ₦100 denomination.
In recent years, Nigeria has witnessed several currency-related developments, including banknote redesigns and cash policy changes. These events have sometimes created uncertainty among members of the public regarding which notes remain valid.
By clearly stating that both versions of the ₦100 banknote remain legal tender, the apex bank aims to eliminate confusion and ensure uninterrupted commercial activities nationwide.
The warning against rejecting legal tender also reinforces the importance of respecting Nigeria’s currency laws while supporting the smooth circulation of cash across the economy.
As economic activities continue across the country, Nigerians are advised to remain guided by official communications from the Central Bank rather than unverified reports circulating online.
DocuNews Central will continue to monitor developments and provide verified updates on monetary policies, banking regulations, and other issues affecting Nigerians.