The Central Bank of Nigeria has warned members of the public, businesses and financial institutions against rejecting the standard N100 banknote, stressing that it remains legal tender across the country.
The apex bank said individuals and organisations refusing to accept the N100 note for legitimate transactions risk enforcement measures under the CBN Act.
The warning comes amid concerns over the rejection of some N100 notes by traders, businesses and members of the public.
The CBN maintained that the standard N100 banknote remains valid for payments and should continue to be accepted alongside other recognised denominations of the naira.
It urged Nigerians to disregard claims suggesting that the note is no longer valid and warned businesses and financial institutions against refusing it during transactions.
The bank also called on members of the public to continue using the N100 note normally, stressing that rejecting legal tender disrupts economic activities and creates unnecessary hardship for consumers.
The CBN reiterated its commitment to maintaining confidence in the country’s currency system and ensuring compliance with laws governing the use and acceptance of the naira.
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