Category Archives: New Products and Services

Tony Elumelu to Receive National Productivity Order of Merit (NPOM) Award from the Federal Government of Nigeria

Tony O. Elumelu, CON, Founder of The Tony Elumelu Foundation (TEF) and Chairman of the United Bank for Africa Group (UBA) and Heirs Holdings, will be conferred with the National Productivity Order of Merit (NPOM) Award by the President of the Federal Republic of Nigeria, H.E. Muhammadu Buhari, GCFR in recognition of his continuous hard work and total commitment to the empowerment of youths in Nigeria and Africa.

Nigerian border closures cut smuggling but drive up prices

The closure of the Nigerian borders may have achieved its set goals, but some things not bargained for have also surfaced, the combination, pushing up prices of goods and affecting some other businesses as well.

Feet ‘n” Tricks Announces Hosting Of First Ever Africa Freestyle Football Championship

Feet ‘n’ Tricks International in partnership with the World Freestyle Football Association (WFFA) has announced hosting of debut Africa Freestyle Football Championship this year. The African Championship is coming on the heels of the successful Nigerian Freestyle Championship organized by Feet ‘n’ Tricks International in 2017.

No Plan To Increase Pump Price Of Petrol – NNPC

The Nigerian National Petroleum Corporation (NNPC) has no plan to execute an increase in the pump price of Premium Motor Spirit (PMS), otherwise called petrol.

Fidelity Bank has the Most Outstanding ‘Family Friendly Policies’ – WIFI  

Fidelity Bank has been adjudged the bank with the most outstanding family friendly policies in Nigeria. In a survey conducted amongst corporate organizations in Nigeria by the Institute for Work and Family Integration (IWFI) in collaboration with the Lagos Business School and the Great Place to Work Institute, the institute said that Fidelity Bank emerged tops in all the measuring indices.

Federal Reserve Board Issues Redesigned $100 Note

The Federal Reserve on Tuesday began supplying financial institutions with a redesigned $100 note that incorporates new security features to deter counterfeiters and help businesses and consumers tell whether a note is genuine.

Distance, demand, and the policies of individual financial institutions will influence how quickly the redesigned notes reach businesses and consumers around the world.

“The new design incorporates security features that make it easier to authenticate, but harder to replicate,” said Federal Reserve Board Governor Jerome H. Powell. “As the new note transitions into daily transactions, the user-friendly security features will allow the public to more easily verify its authenticity.”

The Federal Reserve, U.S. Department of the Treasury, U.S. Bureau of Engraving and Printing, and the U.S. Secret Service partner to redesign Federal Reserve notes to stay ahead of counterfeiting threats.

The redesigned $100 note includes two new security features: a blue 3-D security ribbon with images of bells and 100s, and a color-changing bell in an inkwell. The new features, and additional features retained from the previous design, such as a watermark, offer the public a simple way to visually authenticate the redesigned $100 note.

Consumers worldwide are advised that it is not necessary to trade in older-design $100 notes for new ones. It is U.S. government policy that all designs of U.S. currency remain legal tender, regardless of when they were issued.


  • The first $100 Federal Reserve note was issued in 1914.  It measured 7.375 x 3.125 inches and featured a portrait of Benjamin Franklin on the front and a vignette of figures representing Labor, Plenty, America, Peace, and Commerce on the back.
  • In 1929, the size of the $100 note was reduced to 6.14 x 2.61 inches, and the vignette on the back was changed to feature Independence Hall in Philadelphia.


Facts and Figures

  • Over 96 percent of U.S. currency in circulation is in the form of Federal Reserve notes.
  • A stack of redesigned $100 notes one-mile high would contain more than 15 million notes.
  • There are currently approximately 8.9 billion $100 notes in circulation, worth $890 billion.  Recent analysis estimates that between one-half to two-thirds of the value of those notes circulates outside of the United States.
  • The largest Federal Reserve note produced today is the $100 bill.
  • The largest denomination of U.S. currency ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series 1934. Used only for official transactions between Federal Reserve Banks, the notes were not circulated among the general public.


The Redesigned $100 Note

  • Benjamin Franklin’s portrait is featured on the front of the $100 note.  In addition to his better known activities as a statesman, diplomat, and author – Franklin was also a printer.  Counterfeiting was rife in the colonies during Franklin’s time, and he came up with an early and effective anti-counterfeiting device–reproducing the image of an actual tree leaf, with all the irregularities bestowed by nature, to protect early banknotes from counterfeiting.
  • The vignette of Independence Hall on the redesigned $100 note now features the rear, rather than the front, of that historic building.
  • Phrases from the Declaration of Independence are found on the front of the redesigned $100 note.
  • The $100 Federal Reserve note is printed on      paper composed of 25 percent linen and 75 percent cotton, and contains red      and blue security fibers.

Beer mar ket on the Decline as Jonnie WalkerWalks in with Gold Label

The Nigerian beer market is on the decline, slowing 11 percent in 2013. Previously it declined 7.4 percent in 2012.
The biggest casualty were in the high end brands mainly imports- Becks, Carlsberg, amongst it’s like.
The malt market declined by six percent, as consumers shift to low sugar products- Amstel and Malta Guinness.
Johnnie Walker, a brand of scotch whisky owned by Diageo launched its Gold label brand in Nigeria.
Johnnie Walker is known to be the world’s best selling whisky Diageo and has been operating in Nigeria since 1962 through its subsidiary Guinness Nigeria.
Popular brands include Smirnoff Ice, Malta Guinness, Guinness Extra smooth
The Gold label is dubbed ‘the celebration blend’.
It is expected to be a compelling option during celebrations/parties.
Available in 70cl and 1 litre bottles.