The Central Bank of Nigeria has reaffirmed that both the commemorative N100 banknote and the standard N100 banknote remain legal tender across Nigeria, urging members of the public, businesses, financial institutions, and commercial operators to accept both notes for all transactions without discrimination.
The apex bank said the clarification became necessary following reports that some individuals and business establishments were rejecting one of the two versions of the N100 note despite both retaining their legal tender status.
Furthermore, the CBN stressed that there is no difference in the monetary value of the two banknotes, as both continue to circulate officially within Nigeria’s financial system.
Both Banknotes Have Equal Value
The Central Bank explained that the commemorative N100 note and the standard N100 note possess the same legal status and purchasing power.
Furthermore, Nigerians can use either version to settle commercial transactions, pay for goods and services, conduct banking activities, and meet financial obligations anywhere in the country.
The bank emphasised that no individual or organisation has the authority to reject either note solely because of its design.
Both notes remain valid Nigerian currency.
Public Asked to Avoid Unnecessary Rejection
The CBN urged traders, transport operators, retailers, financial institutions, and the general public to discontinue the practice of rejecting either version of the N100 banknote.
Furthermore, unnecessary rejection of legal tender disrupts commercial activities, inconveniences citizens, and undermines confidence in the national currency.
The apex bank encouraged Nigerians to remain guided by official information regarding the status of circulating banknotes.
Public cooperation supports monetary stability.
Commitment to Currency Integrity
The apex bank reaffirmed its commitment to maintaining the integrity, credibility, and stability of Nigeria’s currency system.
Furthermore, the Central Bank continues to monitor currency circulation while implementing policies that promote confidence in the naira and ensure the smooth functioning of the country’s payment system.
Maintaining public trust remains one of the institution’s core responsibilities.
Confidence strengthens financial systems.
Promoting Financial Inclusion
According to the CBN, universal acceptance of legal tender contributes significantly to financial inclusion and economic participation.
Furthermore, citizens should have unrestricted access to using legitimate Nigerian currency for daily transactions regardless of location or business type.
The bank noted that seamless currency circulation supports commercial activities across both urban and rural communities.
Inclusive financial systems strengthen economic growth.
Supporting Smooth Commercial Activities
The Central Bank explained that uninterrupted circulation of all valid banknotes promotes efficiency within Nigeria’s economy.
Furthermore, businesses benefit when customers can freely use recognised legal tender without facing unnecessary restrictions or delays.
Efficient payment systems encourage trade while supporting broader economic development.
Reliable currency circulation benefits everyone.
Public Awareness Remains Important
The apex bank reiterated the importance of educating the public about Nigeria’s legal tender regulations.
Furthermore, greater awareness helps prevent misinformation while encouraging compliance with existing financial laws and monetary policies.
The CBN encouraged Nigerians to rely on official communications for accurate information regarding the country’s currency.
Accurate information reduces unnecessary confusion.
Strengthening Confidence in the Naira
The Central Bank reaffirmed that preserving confidence in the naira remains essential to maintaining economic stability.
Furthermore, consistent public acceptance of all recognised banknotes strengthens Nigeria’s monetary system while supporting effective financial transactions nationwide.
The bank assured Nigerians that it will continue implementing measures aimed at protecting the integrity and reliability of the country’s currency.
Strong monetary systems support sustainable economic development.
CBN Calls for Nationwide Compliance
The Central Bank of Nigeria’s clarification serves as an important reminder that both the commemorative and standard N100 banknotes remain fully recognised legal tender throughout the country.
Furthermore, by encouraging universal acceptance of both notes, the apex bank seeks to eliminate unnecessary disruptions to commercial activities while strengthening public confidence in Nigeria’s currency.
As citizens, businesses, and financial institutions comply with this directive, the continued circulation of both N100 banknotes is expected to support smoother transactions, improve financial inclusion, reinforce monetary stability, and contribute to the efficient functioning of Nigeria’s economy.
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