According to the apex bank, it had become necessary to address the growing misconception in order to restore public confidence and ensure the smooth circulation of the nation's currency.
The Central Bank of Nigeria (CBN) has clarified that both the standard N100 banknote and the commemorative N100 banknote remain legal tender across the country, warning that individuals and businesses rejecting the standard note are violating the law.
The clarification was contained in a press statement issued on Wednesday by the Acting Director of Corporate Communications, Hakama Sidi Ali, following reports that some members of the public, businesses and other stakeholders had begun rejecting the standard N100 banknote over doubts about its validity.
According to the apex bank, it had become necessary to address the growing misconception in order to restore public confidence and ensure the smooth circulation of the nation's currency.
"The attention of the Central Bank of Nigeria (CBN) has been drawn to reports of the rejection of the standard N100 banknote by some members of the public, businesses, and other stakeholders, apparently due to doubts about its continued legal tender status," the statement said.
