Central Bank of Nigeria Warns Against Rejecting N100 Banknotes

The Central Bank of Nigeria issued a series of warnings between July 8 and July 9, 2026, against the rejection of standard ₦100 banknotes. The apex bank took this action after reports emerged that businesses, traders, and individuals were refusing the standard notes based on the mistaken belief that they had been withdrawn or invalidated following the introduction of a commemorative ₦100 banknote marking Nigeria's centenary.

Acting Director of Corporate Communications Hakama Sidi-Ali clarified that the commemorative note was intended to circulate alongside the standard version and did not replace it. The bank reaffirmed that both versions remain legal tender and must be accepted for all transactions nationwide to ensure a smooth currency circulation and maintain the integrity of the naira.

The bank stated that rejecting the standard ₦100 note constitutes a violation of the CBN Act and undermines public confidence in the national currency. Consequently, the Central Bank of Nigeria vowed to apply regulatory sanctions and enforcement measures against any person or entity found in breach of these provisions.