The Central Bank of Nigeria (CBN) has clarified that both the standard N100 banknote and the commemorative N100 banknote remain valid legal tender across the country, urging members of the public and businesses to accept both notes for all transactions amid reports that the standard version is being rejected in some quarters.
In a release signed by its Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, “the CBN reiterates that both the commemorative N100 banknote and the standard N100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide. The commemorative N100 banknote, which was introduced to mark Nigeria’s centenary, did not replace the existing standard N100 banknote.”
The apex bank warned that rejecting the standard N100 banknote violates the provisions of the CBN Act and undermines public confidence in the national currency.
According to the bank, individuals, businesses, financial institutions, and other economic agents who reject the note could face appropriate enforcement measures.
The CBN reiterated its commitment to safeguarding the integrity of the naira, ensuring confidence in all duly issued banknotes, and promoting seamless currency circulation throughout the economy.
The central bank also advised members of the public to accept all banknotes legally issued by the bank and encouraged anyone seeking clarification to use its official communication channels.
First introduced on December 1, 1999, the N100 note which features the portrait of Chief Obafemi Awolowo on the front and Zuma Rock on the reverse, was last updated in 2014, when the CBN issued a commemorative version to mark Nigeria’s centenary, introducing enhanced security features such as a Quick Response (QR) code, window micro-optics, improved tactile markings for the visually impaired, and stronger anti-counterfeiting elements.
Unlike the N200, N500 and N1,000 notes, which were redesigned in 2022 under former CBN Governor Godwin Emefiele, the N100 note has remained unchanged since the centenary update, with both the standard and commemorative versions continuing to circulate.
