of over 40% their face value. This edition has been updated. “The information citing the World Bank’s President inviting the leader of Biafra, Nnamdi Kanu, to sign a new Biafra currency is untrue,” a bank spokesperson told us in an email. ‘The question of central banking and coinage is something which must be very carefully looked into. 77Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland. However, the first numeral in the serial number for all notes of the second issue is always zero. However, matters became critical in January 1966 when a number of junior army officers attempted a coup. Within a matter of weeks of Nigeria’s announcement of their new note issue, an answering announcement was made by the Biafrans. I think Nigeria should adopt the Biafra Pound as official currency. A second decree, ‘Decree No.4 of 1967’, modified the Banking Act of the Federal Republic of Nigeria for the Republic of Biafra. 10 January 1968 / 08 January 1970 However it has been suggested that much of the haul did not make it back to Biafra – the insinuation being that the money was diverted into private hands. This possibility is further enhanced by the knowledge that the Biafran postage stamps were printed by the Portuguese State Security Printers in Lisbon. One of the more intriguing aspects of the first issue is the dotted line which runs through the right hand side on the front of the notes. The total value of each series printed, based on the numbers extrapolated above, was £50 million for the first issue and £148.5 million for the second issue, making a total of £198.5 million. Values for World Banknotes. Reports exist that the Biafran government approached the Rothschild Bank – either shortly after the outbreak of war, or at least by the end of 1967 – in an effort to transform their holdings of Nigerian currency. (Titled men are part of traditional societies or brotherhoods.). The war continued for two and a half years, with Biafra finally capitulating on 15 January 1970. Thus, only six digits are used and this means that only one million notes were prepared for each prefix, and not the ten million that would be initially supposed. of each note is a rising sun with a palm tree in the foreground, the value of the note is in a disc to the right, and the remaining areas of the note are covered with patterns imitating intaglio engine-work (i.e. However Enugu was one of the first casualties of the war, and the administrative centre of Biafra was moved to several locations (including Aba, Umuahia and Orlu) during the course of the war. 1 – FULL RADIOBIAFRA BROADCAST, BIAFRA IPOB: SPEECH By MAZI NNAMDI KANU – 18th May 2015 Pt. So, on 30 May 1967, the Eastern Region was declared an independent republic by Lieutenant-Colonel Ojukwu. Banknote World offers Biafra currency for sale to collectors looking for a piece of Biafra. Let biafra come to pass in jesus name amen. Texts: Republic of Biafra. It is already known that the mission of the new joker in town, called Nigerian President, which is Muhammadu Buhari,who has been scampering around the world, was to access loans and assistance to run the now illegal country, Nigeria. Despite Ojukwu’s official speech on 27 January and an announcement to the international press on 30 January on the introduction of the new bank notes, there is some lingering doubt as to the official versions of events (which can sometimes be misleading, especially when recorded some time after the events). Comments made in a speech by General Ojukwu in February 1969 (a year after the events), reflect the public despair that was expressed at the Nigerian decree (although Ojukwu himself could not have been surprised): ‘The government has long been aware of the terrible experiences of our people over the issue of currency. In his ‘Diary of Events’ for 1 September 1968, Gen. Ojukwu again records – ‘Acute shortage of currency due to Hank Wharton’s Plot.’ In the Biafran towns and cities the shortage of money was one of the many problems people faced. – The Times newspaper – London, United Kingdom, (The references in brackets refer to the page number and column location of the relevant article. biafra: $6’063.65 billion u.s dollars stolen from biafra oil money by islamic hausa/fulani /yoruba murderers at 23:40:00 Featured, Nigeria, World News, • Author: Benjamin Kish It is estimated that a total of £115–140 million Biafran pounds were in circulation by the end of the war. 2019 in this case). In the Eastern Region, from the time of the massacres, there arose a strong movement amongst the Ibos to break away from the federation. First published in the. Cargoes of arms and ammunition bought by Biafra are dumped into the sea during airflight. The reports indicate that Rothschild was prepared to pay twelve shillings and sixpence in British currency for each Nigerian pound. Indeed, for dozens of the most heavily indebted poor countries, the largest part of their external debt—in some cases constituting more than 50 percent—is owed to the World Bank and the multilateral regional development banks. – Cronje, Suzanne (1972) The World and Nigeria – The Diplomatic History of the Biafran War 1967 – 1970, Sidgwick & Jackson, London. Like any new nation, Biafra was keen to be identified with its own national symbols, and for this new republic these were primarily their coat of arms, the rising sun, and the palm tree – all being used extensively on Biafran national instruments. What is less well documented, are the many aspects of the administration of the war-torn state – aspects such as the establishment of the Bank of Biafra and the issue of the Biafran bank notes. In addition, Biafra was reported to have bought many of its armaments in Geneva and Lisbon – reinforcing the probability that one or both of these cities may have provided printing presses for the notes. Change ), You are commenting using your Facebook account. Another version states that one plane was forced to jettison much of its cargo, including over half the bank notes it was carrying, into the Atlantic while flying along the coast. The coup also resulted in General Ironsi being murdered, and hundreds of Ibo officers and soldiers being rounded up by their northern counterparts and shot. Unfortunately he was later to suffer a problem far removed from the over-issue he suspected Nigeria of planning – he was to face empty bank vaults and the lack of a circulating medium. In an effort to curb the flow, the federal government issued a decree in June stating that Nigerian currency exported from Nigeria (including the rebel held Eastern Region) after 21 August 1967, would not be redeemed by the Nigerian Government. To have a better understanding about biafran currency notes, you can visit Mintage World and explore the world of currency notes. In an effort to take firm control of the country, General Ironsi was appointed by the Nigerian cabinet to head a federal military government. A brief monetary history: Nigerian currency Pound = 20 Shillings = 240 Pence, 1967-70 For Nigeria issues see: Nigeria. When a foreign journalist, Michael Mok of ‘Life’ magazine, asked a nun working with the Biafrans whether he could make a cash donation to help the starving children, he was told that cash would be useless, as there was nothing left to buy in Biafra. In addition, the depiction of a single palm tree had been the dominant feature on the bank notes of the West African Currency Board from 1916 to 1951, and gave a visual reminder of the notes of that era. Bank of Biafra. The 1968 Biafran bank note issue was not only an emergency issue, it also faced the trials and tribulations of the country it was serving – many of the notes not making it to Biafra. To the left! – The coat of arms used by Biafra was derived from the coat of arms granted to the Eastern Region of Nigeria in 1960. "This is after the $2.2B borrowed from the World Bank in February this year, which it claimed was for 'immunization and job creation', when in fact, the money was not for the purposes. Promise. (Biafra transferred its capital several times to avoid capture by advancing Nigerian forces). It is not known what happened to the Biafran currency that was surrendered, but it was almost certainly destroyed. [113] Seal serves as a promise that you are receiving authentic currency and is backed by the protection of Banknote World’s T.A.P. These undelivered notes were sold into the collector market once they became unusable, and were sold in such numbers that the market became flooded. It was in this statement that Dr. Okigbo said that the Biafrans had collected £53 million in the three weeks since Nigeria’s announcement that the notes would no longer be legal tender after 22 January. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under ‘Decree No. Moreover, he was commissioned to take part in a plan to assassinate Ojukwu and topple the Biafran regime – a plan that was later uncovered and which cost Banjo his life. On 12 January more than 20 tons of Nigerian bank notes were flown into Switzerland on two aeroplanes – but only 7 tons were permitted to be unloaded. See How To Advertise. Founded in 1944, the World … Most commentators on Biafra’s bank notes report that the first issue occurred immediately after the declaration of independence – but this is not correct. But I wonder how many of us have contemplated what the map of the new Biafra will look like. Variety with serial number. However when Lieut.-Col. The AYCF leader also pledged to protect the Igbo living in the northern part of Nigeria, while expecting such anywhere in the country. The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970.. ces had taken with them some two million pounds in Nigerian currency, taken from bank vaults in Benin. When Biafra declared its independence, it was drastically short of equipment to fight the war, despite the declarations of Lieut.-Col. Ojukwu. – Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. Whatever the exact date of issue, the quote above does show that, following Nigeria’s announcement of their new note issue, Biafra continued to collect as many Nigerian notes as possible before the notes could no longer be redeemed. Promise to pay on Demand the sum of One Pound. Manillas are a type of primitive money that were in use in Nigeria for hundreds of years. The first Republic of Biafra Bank note issue. The front of each note has a coloured pattern (around the outside of the central design) which contains very small print repeating the words ‘Bank of Biafra’ followed by the denomination of the note – e.g. You must remember how hardworking Igbo people are, how they were in every Despite the advance warnings given by Lagos, and the dubious manner in which the Biafrans were raising revenue with Nigerian currency, the Biafran Government looked upon the Nigerian announcement as ! We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges The prefixes commenced with a letter that was assigned to the denomination, followed by a second letter that cycled through the alphabet from ‘A’ to ‘Z’; although the letters ‘I’ and ‘O’ were not used due to their similarity with the numerals one and zero. In his ‘Diary of Events’ Gen. Ojukwu makes the following entry: ‘August 13 [1968]: The Hank Wharton Plot, hatched by British government and American CIA to sabotage Biafra and help Nigeria to carry through her ‘final thrust’ into Biafran heartland. After Biafra's declaration of independence from Nigeria, Nigeria declared war on the nascent state, defeating them in the Nigerian Civil War and reuniting the two states.. Biafra was formally recognized by Gabon, … 1967 Bank of Canada Paper Money, Grade P 1 Gold Bullion Coins. At the end of the civil war there was a critical shortage of the new Nigerian currency, which retarded efforts to replace the currency in circulation in the east. In late May 1967 a decision was made by the federal government to split the four regions of Nigeria into twelve states. that the sale of notes escalated and it is probable that some of the larger dealers of coins and bank notes offered to take large amounts of the notes. bank of biafra 1 pound note value. It was generally reported that the notes were being sold at discounts! This is due to two main reasons – firstly, such a matter becomes of secondary importance in the struggle of a war-torn country, and secondly, it appears that Ojukwu played his hand on this matter quite close to his chest. – Pick Publishing Corporation (1970) Pick’s Currency Year Book – 1969, New York. The bank was first located in Enugu, but due to the ongoing war, the bank was relocated several times. In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. Riots, which broke out in several parts of the country, thus found Ibos as the targets of violence. It is believed that the Northern Region undertook the coup with the main aim of secession, however British diplomats in Lagos (the Nigerian capital) convinced the new leaders that they should seek unity under ‘one Nigeria’. Bank of Biafra. 1 day ago World The Indigenous People of Biafra (IPOB) has restated commitment towards restoring Biafra sovereignty through peaceful and democratic process, stressing it … The World Bank is an international organization that offers developmental assistance to middle-income and low-income countries. ), It is interesting that such an attempt has been made to produce this quasi-security device, as another very simple security device is absent – that of non-fluorescing paper. International Bank Note Society Journal. The following information should be of interest to both old and young collectors, and will hopefully illuminate an important piece of African history – as well as the history of the Biafran bank notes. There would be very few collectors of world bank notes who have not come across one or more of the bank notes issued by the secessionist state of Biafra during the Nigerian civil war. 2 – FULL RADIOBIAFRA BROADCAST. Despite many early successes, Biafra was mostly on the back foot during the conflict; and, as well as defending itself, had to support the millions of refugees who had returned to the region after the massacres. Re: Bank Of Biafra Currency Found (photos) by shurlermoz(m): 10:12pm On May 03, 2015 OneNaira6 : Since you know be so well, name one thing I benefited from yoruba, just … Benin in mid-September, the new currency ), several were very important, we decided to Page! This issue are estimated to be loaded on a number of notes prepared for the of. 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