CBN Confirms N100 Note Remains Legal Tender Amid Public Confusion
The Central Bank of Nigeria has reaffirmed that the standard N100 banknote remains legal tender, following reports of public rejection.
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The Central Bank of Nigeria (CBN) has reaffirmed that the standard N100 banknote remains legal tender for all transactions in the country. The clarification came in response to reports that some members of the public were refusing to accept the note in commercial exchanges.
In a statement issued by Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications at the CBN, the apex bank emphasized that the N100 note retains full legal status under Nigerian monetary law. The statement was released on July 8, 2026, and was reported by Vanguard News.
The CBN's intervention follows growing confusion in markets and retail outlets, where anecdotal evidence suggests some traders had begun declining the N100 denomination. The central bank did not specify the cause of the misinformation but stressed that all existing banknotes, including the N100, are valid for use in settling debts and conducting transactions.
Naija News also reported the CBN’s clarification on July 8, 2026, underscoring the institution’s effort to stabilize public confidence in the national currency. No policy changes affecting the N100 note were announced, and the bank reiterated its commitment to ensuring seamless circulation of all denominations.
The reaffirmation aligns with the CBN’s broader mandate to maintain currency stability and public trust in Nigeria’s financial system. Authorities continue to monitor compliance and public sentiment regarding cash usage across the country.