CBN warns against rejection of standard ₦100 note, says it remains legal tender

The Central Bank of Nigeria, CBN, has assured Nigerians that the modular ₦100 banknote remains ineligible tender, informing that anyone rejecting it for transactions is violating the law.

In a connection by the Director of Corporate Communications, Hakama Sidi-Ali, the apex slope said its attraction had been drawn to reports that immoderate individuals, businesses, and different stakeholders were refusing to judge the modular ₦100 enactment implicit concerns astir its ineligible tender status.

The CBN clarified that some the modular ₦100 banknote and the commemorative ₦100 banknote introduced to people Nigeria’s centenary stay valid for each transactions crossed the country.

According to the bank, the commemorative ₦100 enactment was issued to observe Nigeria’s centenary and was ne'er intended to regenerate the existing modular ₦100 banknote.

The apex slope cautioned individuals, businesses, fiscal institutions, and different economical agents against rejecting the modular ₦100 note, stressing that specified actions interruption the provisions of the CBN Act and erode nationalist assurance successful the nationalist currency.

“The Bank volition not hesitate to apply...