By Chioma Obinagwam
The Central Bank of Nigeria (CBN) has moved to douse growing public confusion over the legal status of the standard ₦100 banknote, insisting that both the commemorative and standard versions remain valid for all transactions nationwide.
In a press release sighted by Confiance News, the apex bank said it had observed reports of members of the public, businesses, and other stakeholders rejecting the standard ₦100 note over doubts about its continued legal tender status.
The CBN clarified that the commemorative ₦100 note, which was introduced to mark Nigeria’s centenary celebrations, did not replace the existing standard ₦100 banknote. According to the statement, both notes remain legal tender and must be accepted for all transactions across the country.
CBN Warns Against Rejection of Naira Notes
The apex bank did not mince words on the consequences of rejecting the standard ₦100 note, describing such acts as a violation of the provisions of the CBN Act.
Confiance News gathered that the bank strongly cautioned individuals, businesses, financial institutions, and other economic agents against turning down the standard ₦100 note, warning that the practice undermines public confidence in the national currency.
The CBN further stated that it would not hesitate to apply appropriate enforcement measures against any person or entity found to be in breach of the directive, signaling a firmer regulatory posture on currency acceptance going forward.
Bank Reiterates Commitment to Currency Integrity
The apex bank used the opportunity to restate its broader mandate of safeguarding the integrity of the Naira and ensuring confidence in all duly issued banknotes.
In the statement obtained by Confiance News, the CBN said it remained committed to promoting smooth currency circulation across the country, a responsibility it described as central to maintaining stability in the nation’s payment system.
Members of the public were accordingly urged to accept and transact with all banknotes legally issued by the Central Bank of Nigeria, without discrimination between commemorative and standard editions.
CBN Directs Public to Official Channels for Clarification
The apex bank advised anyone requiring further clarification on the legal tender status of the Naira to reach out through its official communication channels, rather than relying on rumors or unverified claims that may be circulating within communities and business circles.
The press release, dated July 8, 2026, was signed by Hakama Sidi-Ali (Mrs.), Ag. Director, Corporate Communications, CBN.
Confiance News confirms that the clarification comes amid what appears to be widespread uncertainty among market women, transport operators, and small business owners in various parts of the country, some of whom have reportedly been turning away the standard ₦100 note in recent weeks.
Financial analysts say the CBN’s swift intervention is aimed at forestalling any disruption to retail transactions, particularly in the informal sector where cash remains the dominant mode of payment.
As the apex bank tightens its stance on currency acceptance, stakeholders within Nigeria’s financial ecosystem are expected to keep a close watch on how enforcement plays out in the coming weeks.
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