CBN Confirms N5–N100 Notes Still Legal Tender Despite Scarcity

The Central Bank of Nigeria governor has reassured Nigerians that lower denominations from N5 to N100 remain valid for transactions. He explained that the limited number of these notes in circulation reflects demand and supply dynamics, not a withdrawal of legal status. He made the clarification during the briefing after the 306th Monetary Policy Committee meeting. At the same gathering, the MPC held the benchmark interest rate at 26.50 percent for a second straight meeting, amid a 15.91 percent inflation rate recorded in June.

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