The Central Bank of Nigeria (CBN) has directed members of the public, businesses and commercial banks to immediately stop rejecting the standard ₦100 banknote, reaffirming that it remains legal tender across the country.
The apex bank issued the directive following reports that some traders, businesses and other stakeholders had refused to accept the standard ₦100 note over claims that the currency had expired or been withdrawn from circulation.
In a statement released in Abuja, the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, described the reports as unfounded and urged Nigerians to disregard the rumours.
“The attention of the Central Bank of Nigeria has been drawn to reports of the rejection of the standard ₦100 banknote by some members of the public, businesses and other stakeholders, apparently due to doubts about its continued legal tender status,” the statement read.
The CBN stressed that the standard ₦100 banknote remains a valid medium of exchange and should be accepted for all transactions nationwide.
The bank urged individuals, businesses and financial institutions to continue accepting the note, warning against actions capable of disrupting commercial activities or undermining public confidence in the nation’s currency.
The apex bank also reassured Nigerians of its commitment to maintaining the integrity of the country’s currency and ensuring the smooth circulation of all legal tender.
