Standard, Commemorative ₦100 Notes Remain Legal Tender – CBN
The central bank said rejecting the standard note violates the law and warned it may enforce compliance to protect confidence in the naira.
- On Wednesday, the Central Bank of Nigeria clarified that both the standard N100 note and the commemorative N100 banknote remain legal tender, urging Nigerians to accept them for all transactions nationwide.
- Reports that individuals and businesses were refusing the standard N100 note prompted the bank's action, as stakeholders were rejecting the currency due to uncertainty over its legal tender status.
- The commemorative N100 banknote, introduced to mark Nigeria's centenary, did not replace the existing standard N100 banknote, and the bank emphasized that both versions remain valid for all transactions.
- Rejecting the standard N100 note violates the CBN Act and undermines public confidence, the regulator warned, adding it will not hesitate to apply enforcement measures against anyone contravening the law.
- The CBN reaffirmed its commitment to safeguarding the naira's integrity and ensuring seamless currency circulation, while advising the public to contact official communication channels for further clarification.
22 Articles
22 Articles
CBN warns against rejection of N100 banknotes
CBN warned that such action constitutes a violation of the provisions of the CBN Act and undermines confidence in the national currency. The post CBN warns against rejection of N100 banknotes appeared first on Premium Times Nigeria.
CBN warns against rejection of ₦100 notes, says offenders risk sanctions
The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard ₦100 banknote, reaffirming that it remains legal tender across the country.
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QUICK NEWS AFRICACBN warns against rejection of standard N100 notes
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/
Standard, Commemorative ₦100 Notes Remain Legal Tender – CBN
The Central Bank of Nigeria (CBN) has reaffirmed that both the standard ₦100 banknote and the commemorative ₦100 banknote remain legal tender and must be accepted for all transactions across the country.The clarification was contained in a statement issued by the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali.According to the apex bank, the statement became necessary following reports that some members of the public, bus…
CBN: Standard N100 note remains legal tender
The 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.
CBN warns against rejection of standard ₦100 note, says it remains legal tender
The 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 le…
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