CBN Reassures Nigerians: All Old N100 Notes Remain Valid Legal Tender

The Central Bank of Nigeria (CBN) has issued a fresh clarification confirming that all versions of the N100 banknote, including older designs and commemorative editions, remain legal tender. The statement comes after false claims circulating on social media led to transaction disruptions, with some businesses and transport operators refusing to accept the notes.

CBN Warns Against Rejecting Old N100 Notes

The apex bank urged Nigerians to stop rejecting older N100 notes over baseless claims that some editions have expired. According to the CBN, there is no directive withdrawing any N100 banknote from circulation, and every N100 note issued by the bank continues to be valid for payment.

In its statement, the CBN stressed that the N100 banknote remains legal tender under the provisions of the CBN Act. The bank said Nigerians should ignore misleading information suggesting that any version of the denomination has lost its legal status. It warned that rejecting genuine naira notes issued by the CBN is contrary to the law and undermines confidence in the country's payment system.

Misinformation Fueling Confusion in Markets and Transport

The clarification follows growing reports that certain merchants and individuals have refused to accept older N100 notes, creating confusion and unnecessary disruptions in cash transactions across parts of the country. The development comes as false claims of expired notes led to transaction disruptions and began circulating on social media.

The clarification is expected to end weeks of uncertainty among cash users, particularly in markets, public transportation and informal businesses where cash remains the dominant means of payment. The latest statement is part of the CBN's ongoing efforts to combat misinformation surrounding Nigeria's currency since the naira redesign policy and subsequent Supreme Court ruling on the validity of old N200, N500 and N1,000 notes.

Legal Basis and Call for Compliance

The CBN reminded retailers, financial institutions, transport operators and service providers that all genuine naira notes issued by the bank must be accepted for transactions. It noted that Section 20 of the CBN Act recognises CBN-issued currency as legal tender, meaning no individual or business should refuse authentic banknotes presented for payment.

The bank also encouraged Nigerians to handle banknotes carefully to prolong their lifespan and reduce the cost of replacing damaged currency. The apex bank advised members of the public to rely only on official CBN communications for information relating to the country's currency. It also reiterated its call for Nigerians to continue embracing electronic payment channels alongside cash transactions, noting that digital payments help reduce pressure on physical cash while improving efficiency in the financial system.

What This Means for Nigerians and the Naira

With the latest clarification, the CBN hopes to eliminate uncertainty over the N100 denomination and ensure that Nigerians can continue using every genuine N100 banknote without fear of rejection. For consumers and small businesses that rely heavily on cash, this confirmation removes a source of unnecessary friction in daily transactions and reinforces confidence in the naira as a medium of exchange.