CBN Warns Against Rejection of Standard N100 Notes

The Central Bank of Nigeria (CBN) issued a warning to the public and financial institutions regarding the rejection of standard N100 banknotes, emphasizing that these notes remain legal tender across the country. This statement, released by the CBN's Director of Corporate Communications, Hakama Sidi Ali, clarifies that the commemorative N100 banknote introduced in 2014 to mark Nigeria's centenary does not replace the existing standard N100 banknote.

The CBN cautioned against the refusal to accept standard N100 notes, stating that such actions violate the provisions of the CBN Act and undermine public confidence in the national currency. The bank reiterated its commitment to safeguarding the integrity of the naira and maintaining public confidence in its currency.

The CBN urged Nigerians to continue accepting the standard N100 banknotes for transactions nationwide and advised anyone seeking clarification to contact its official communication channels.