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CBN Clarifies Legal Tender Status Of ₦100 Banknotes - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessCBN Clarifies Legal Tender Status Of ₦100 Banknotes (16667 Views)

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Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by abbasajao(m): 5:04pm On Jul 08
MrMcJay:
To make it more a acceptable, let them pay the salaries of CBN staff, in cash, using only 100 Naira notes.
This is irrelevant.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Mattswaggz: 5:09pm On Jul 08
dominique:
It seems there's an injection of those old ₦100 notes into the public, it's been so long that I saw one that I almost didn't recognise it when it was given to me as change few days ago. CBN should have discontinued the centenary notes after 2014 instead of continuing with the design. A lot of gen alphas won't even know such notes ever existed
And it being new made it even more suspicious for many but so far it's the government that released it into circulation then no need to panic.....when I first saw it, I was thinking it was the one printed maybe years ago and wasn't released into circulation until I saw the year 2026 on it. grin
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by uche393: 5:12pm On Jul 08
If I'm president I'll push more cashless policies, remove 1k and 500 even 5 and 10 bucks
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Juoflife1(f): 5:39pm On Jul 08
I took the ones I had to the bank this morning because people were rejecting it. I don't know if na illiteracy or ignorance dey worry us for this kontri
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Mattswaggz: 5:45pm On Jul 08
MrMcJay:
To make it more a acceptable, let them pay the salaries of CBN staff, in cash, using only 100 Naira notes.
What difference would it make?....they can easily deposit it to their account and withdraw in another currency or even swap it since they work there.... it's legal anyway so no need to panic.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by MrMcJay(m): 5:48pm On Jul 08
abbasajao:
This is irrelevant.
Who asked you of its relevance?
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Lekby25: 5:50pm On Jul 08
Julibet:
Nigerians are part of the reason why the lesser currencies are no longer useful. Now, we increase prices of small goods in 100s not even 50s again. People like transporters do this a lot, that's why the lesser currencies are no longer useful anymore.

Filling stations sell products in multiples of 10s but they will never give you change in small currency, rather, they will round it up even if you're paying with POS. It's crazy.
So to you, Nigerians are the cause of inflation. Nigerian currency is supposed to be revalued. Highest currency is not supposed to be more than #200.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by regenerateman(m): 6:13pm On Jul 08
It seems CBN has started issuing this standard N100 bank note in circulation. This is the import of the circular.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by apelikirk: 6:16pm On Jul 08
FriendsAndFans:
Can't remember when last I saw that currency.
I have a 10 naira note here. It can't buy anything
a keke man gave it to me last week and it took me time to reuse it because people were rejecting it saying it was no longer accepted. I later used it for another keke o.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by AfonjaPriest: 6:45pm On Jul 08
The problem is not with the ₦100 notes.
CBN should inform the public if the ₦5, ₦10, and ₦20 notes are still legal tenders.
This is because people are actually rejecting them.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by gokpoechi(m): 6:53pm On Jul 08
Amovingman:
Sell it for me please 🙏🏿 🤲🏿 { drop your phone number to reach out to you
How much do you buy each one?
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by 3kay945(m): 7:04pm On Jul 08
They should just print more on this note.. case closed.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Yampotatocarrot(m): 7:33pm On Jul 08
Maybe they should have informed the public about the reintroduction before doing it... When I saw it, I was also sceptical, but if I had read a news about the reintroduction, I'll have waved the scepticism away
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Tayomi37(m): 7:56pm On Jul 08
No wonder, a bikeman gave me this #100 as change and I was like WOW where did you get our old jersey.
I folded it in my inner purse to show my kids when I get back home on weekend.
I never knew the CBN has reintroduced it back to the system
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by faceland: 8:27pm On Jul 08
I saw some brand new 2026 ₦100 note and my brain reacted until I remembered it was never re-coloured by Buhari.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Josbreed: 8:46pm On Jul 08
CBN should be focusing printing more N100 notes because it has become so so scarce in circulation.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Bluntemperor: 8:50pm On Jul 08
FriendsAndFans:
Can't remember when last I saw that currency.
I have a 10 naira note here. It can't buy anything
Your Cho,Cho Cho is just unbearable on the Social Media,with gaulible audiences.
Is N100- as a legal tender not different from N10 ⁉️
The problem with many Nigerians is they know little about the Legal tender of A Currency 💲💵 and they All Want to be like A Banker,when their jobs is different.
Please 🥺, leave the CBN Alone,to do their Job.
As at today, Both in UK and USA,Coins Are Still being used ,as a Legal tender,but in My Country Nigeria, We don't used Coins because we feel, Too BIG For Nothing, anyway,especially the Elites, Feel they Can't hold Coins in their Pockets and Babaringa- Agbada Clothes.
We Are Not Serious in this Country.
OR
Why Do these' Big Men' Collect and Used same Coins Outside Nigeria ?
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by akpumping7720(m): 10:17pm On Jul 08
Amovingman:
Sell it for me please 🙏🏿 🤲🏿 { drop your phone number to reach out to you
How much are you buying it. I have some
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Daneguakhi(m): 4:11am On Jul 09
I just pity those that work in Bank Branches because they have to be sorting money each time they need to move money out of their branches. Sort 100, sort 200, sort 500, sort 1000.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by CorrectionFLuid: 6:21am On Jul 09
Mattswaggz:
If not that most Nigerians are semi-illiterates, why would anyone need CBN to clarify the legal status of something that wasn't disbanded or decommissioned in the first place.....all that is needed is to ensure that the money is real by checking all the verifiable features and that's all....that was how I gave one woman the note and she was asking me if it will be accepted and I told her why not?...no be CBN release am into circulation.....another one I gave also told me that some local marketers rejected it from her last weekend...I wanted to insult them but I just assumed they are ignorant and trying to play safe just in case because it naturally wouldn't make sense to be printing old versions of Naira notes this year but THIS IS NIGERIA. grin grin grin

I wonder why they're printing the old version though this year when it is supposed to be allowed to phase out/go extinct.
Because of the arabic. The centenary notes didn't contain the arabic text and was one of the conflict between northerners and the Jonathan administration
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Toppas(m): 7:08am On Jul 09
If you give them for my side they won't collect it
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Pickup8: 8:44am On Jul 09
Amovingman:
Na person way get money dey reject ham
Abi nah.
Re: CBN Clarifies Legal Tender Status Of ₦100 Banknotes by Mattswaggz: 8:57am On Jul 09
CorrectionFLuid:
Because of the arabic. The centenary notes didn't contain the arabic text and was one of the conflict between northerners and the Jonathan administration
Wow...that's another angle. shocked
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