The Central Bank of Nigeria (CBN) has warned Nigerians, businesses and financial institutions against rejecting the standard N100 banknote.
The Apex bank stressed that it remains legal tender and must be accepted for all transactions nationwide.
CBN said the clarification became necessary following reports that some members of the public were refusing the standard N100 note after the introduction of the commemorative N100 banknote issued to mark Nigeria’s centenary.
It emphasised that both the commemorative and standard N100 notes are valid and are expected to circulate side by side.
The CBN cautioned that rejecting the standard N100 banknote violates the provisions of the CBN Act and undermines public confidence in the national currency.
The institution warned that appropriate enforcement measures would be taken against individuals or organisations found flouting the law.
The bank reaffirmed its commitment to protecting the integrity of the naira and ensuring confidence in all officially issued banknotes.
It also urged traders, transport operators, businesses and other cash users to accept all CBN-issued banknotes and advised the public to seek clarification through its official communication channels when necessary.
In another development, GISTSMATE MEDIA reports that the International Monetary Fund, IMF, has warned that rising prices of essential goods will deepen poverty and food insecurity in Nigeria despite improved macroeconomic stability, even as it maintained growth forecasts for the economy in 2026 and 2027 at 4.1 per cent and 4.3 per cent.
In its July 2026 World Economic Outlook Update, the IMF also lowered its forecast for global economic growth to 3.0 per cent in 2026 from the average 3.5 per cent recorded in 2024 and 2025, citing the impact of the Middle East conflict and uneven benefits from the artificial intelligence-driven technology boom.
Commenting on Nigeria and Sub-Saharan Africa, the IMF stated: “Growth in sub-Saharan Africa is expected to remain broadly stable at 4.3 percent in 2026, though this masks substantial divergence across countries, reflecting differences in policy space, reform implementation, and exposure to external shocks. READ MORE
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