Nigeria, July 8 -- The Central Bank of Nigeria (CBN) has reiterated that both the commemorative N100 banknote and the standard N100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide.

The apex bank clarified this in a statement issued by Hakama Sidi Ali, the CBN's acting director of corporate communications, on Wednesday.

CBN explained that the commemorative N100 banknote, introduced to mark Nigeria's centenary, did not replace the existing standard N100 banknote.

The clarification follows reports that businesses and other Nigerians are rejecting the standard N100 banknote due to doubts about its continued legal-tender status.

"For the avoidance of doubt, the CBN hereby reiterates that both th...