The Central Bank of Nigeria (CBN) warns the public, businesses, and financial institutions against refusing the standard ₦100 banknote in transactions. CBN says its attention has been drawn to reports that some people and organizations are rejecting the note due to confusion about its validity. In statements attributed to CBN’s corporate communications director, Hakama Sidi-Ali (reported as acting/acting director in some accounts), the bank clarifies that the standard ₦100 note continues to be legal tender. Multiple outlets report that the CBN also reiterates that the commemorative ₦100 note—introduced in 2014 to mark Nigeria’s centenary—remains valid alongside the standard version. The CBN says rejecting the standard note violates provisions of the CBN Act and undermines confidence in the naira. The bank also indicates that enforcement measures may be applied against those who refuse to accept legally issued banknotes, and it urges Nigerians to accept all CBN-issued notes for transactions nationwide.
CBN Warns Against Rejecting Standard ₦100 Note, Says It Remains Legal Tender
The Central Bank of Nigeria (CBN) warns the public, businesses, and financial institutions against refusing the standard ₦100 banknote in transactions. CBN says its attention has been drawn to reports...
- The CBN says the standard ₦100 banknote remains legal tender in Nigeria.
- The CBN says people and institutions should not reject the standard ₦100 note for transactions.
- Reports indicate some businesses and members of the public are refusing to accept the standard ₦100 note.
- The CBN reiterates that both the standard ₦100 note and the commemorative ₦100 note are valid for transactions nationwide.
- The CBN warns that rejecting the standard note violates the CBN Act and may lead to enforcement actions.
The Central Bank of Nigeria (CBN) warns the public against rejecting the standard N100 note, affirming both versions remain legal tender. Violators risk en Read More: https://punchng.com/cbn-warns-against-rejection-of-standard-n100-notes/
1 hour agoThe Central Bank of Nigeria (CBN) has cautioned the public, businesses, and financial institutions against rejecting the standard ₦100 banknote, stressing that it remains legal tender alongside the commemorative ₦100 note.The warning followed reports of confusion over the note’s validity, with some individuals and businesses refusing to accept it.In a statement issued Wednesday by Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank clarified that both the standard and commemorative ₦100 notes are valid for transactions nationwide.“For the avoidance of doubt, the CBN hereby reiterates that both the commemorative ₦100 banknote and the standard ₦100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide,” the statement read.The commemorative ₦100 note was introduced in 2014 to mark Nigeria’s centenary but was never intended to replace the standard version.The CBN warned that rejecting the standard ₦100 note violates the provisions of the CBN Act and undermines confidence in the naira, adding that enforcement measures would be applied against violators.The bank reaffirmed its commitment to safeguarding the integrity of the naira and urged Nigerians to accept all banknotes legally issued by the CBN.
2 hours agoThe Bank, in a statement by its Ag. Director, Corporate Communications, Mrs. Hakama Sidi-Ali, yesterday, said the clarification became necessary following reports that some members of the public were rejecting the note. The post CBN: Standard N100 note remains legal tender appeared first on Vanguard News.
3 hours agoThe Central Bank of Nigeria, CBN, has assured Nigerians that the standard ₦100 banknote remains legal tender, warning that anyone rejecting it for transactions is violating the law. In a statement by the Director of Corporate Communications, Hakama Sidi-Ali, the apex bank said its attention had been drawn to reports that some individuals, businesses, and other stakeholders […] CBN warns against rejection of standard ₦100 note, says it remains legal tender
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