December 29, 2020 by . 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. Bank of Biafra (Central Bank) But I wonder how many of us have contemplated what the map of the new Biafra will look like. Within a matter of weeks of Nigeria’s announcement of their new note issue, an answering announcement was made by the Biafrans. According to one version, the planes broke down while flying in their cargo, and jettisoned the much needed supply of weapons, and evidently other cargo such as the Biafran bank notes, before returning to Lisbon. We had to do something quickly to save the near-disastrous situation. Of the various symbols used in the design of the Biafran bank notes (both issues), several were very important. While each of the notes of the second issue have a degree of common design on their front, each denomination is distinct in its layout. The blockades imposed on Biafra by Nigeria and her allies started to take their toll, and it would seem that the loss of the of bank notes through Hank Wharton’s ‘treachery’ was one of the more telling blows. July 18, 2020 July 18, 2020 Tonnison 0 Comments World Bank Sign MOU With Nnamdi Kanu On Biafra New Currency (See Photos) The information reaching our correspondent this morning from daily Biafra Newspapers has confirmed that World bank and the leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu are meeting to sign an MOU empowering the use of the Biafra Currency. The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970.. When many Ibos decided to forsake their homes and businesses, and flee the violence in various parts of Nigeria to return to their homelands, it was Lieut.-Col. Ojukwu who advised them to return to their homes and businesses, assuring them that peace would be returned under the new government. 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. 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. MA to MZ  (except MI & MO)      24 million, NA to NR  (except NI & NO)      16 million, 10s. Security printers usually use paper, particularly paper with high linen and cotton content, which is not treated in such a manner.). The back of the 1-pound note carries the Biafran coat of arms above a wreath (constructed of two sprigs of unidentified leaves), and a ceremonial spear behind the disc in which the value of the note is held. The banknotes were printed in Switzerland. The 10-pound note has a male carver depicted on its back, as well as having the coat of arms in a white disc to the left. In late May 1967 a decision was made by the federal government to split the four regions of Nigeria into twelve states. Contemporary reports claim that many individuals presented their savings in local and foreign currency to the government so that weapons could be bought; later, gold and jewels were donated as contributions to the war effort. Values for World Banknotes. [113] 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. Change ), You are commenting using your Google account. Most of us are familiar with the Biafra map of between May 30, 1967 and January 15, 1970 (the old Biafra.) I think Nigeria should adopt the Biafra Pound as official currency. 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. I will be happy if Biafra is actualized. Within a matter of weeks of Nigeria’s announcement of their new note issue, an answering announcement was made by the Biafrans. All rights reserved. The Bank of Biafra was initially located in Enugu, but it changed places multiple times throughout the war in order to avoid capture by advancing Nigerian forces. ‘five shillings’. Biafra Bank Mission 2020 ... value for our customers and shareholders as well give Biafrans confidence to save their money in safe hands. Ojukwu’s speech dates the declaration at 27 January 1968 (the date of the announcement of Biafra’s new currency), whereas his ‘Diary of Events’ dates it at 22 January (the same day that the old Nigerian notes were no longer accepted by the Central Bank of Nigeria). Their use was very popular amongst the Ibos until recent times and they were only demonetised during the 1940’s. I shall send to the conference, when the time comes, economic experts who will advise on detailed arrangements with a view to safeguarding our future in this respect.’ (Akpan, 1972), It is most likely that when the time came to organise the first issue of Biafran notes, Ojukwu played a significant role. 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. There were only two denominations in the first issue (five shillings and one pound), and according to Dr. Okigbo in his statement of 1 February the reason for this was the desire for the Biafrans to deflate their economy – although the reality would appear to be insufficient planning. World Paper Money Catalog and History of World Currency with over 16.000 images of old and recent world paper money listed by countries. (These were also the colours of the Biafran flag – three horizontal bars of red, black, and green, with the rising sun in the centre of the black band). The machinations of the various political elements caused Nigeria to lurch from one political crisis to another in the early years of nationhood. Realising that their activities had led to a greatly reduced amount of money in circulation, the Biafrans prepared to replace the Nigerian currency, with this endeavour resulting in the first Biafran note issue. 3… To the left! – Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. However, matters became critical in January 1966 when a number of junior army officers attempted a coup. On 27 January 1968 Gen. Ojukwu declared to the 7th Session of the Consultative Assembly and Council of Chiefs and Elders: ‘Fellow countrymen, I am happy to announce to you that I have today signed a decree introducing Biafran currency notes which will be the legal tender throughout the Republic of Biafra. After the declaration of independence of the republic of Biafra the then military governor of the Eastern region of Nigeria was to establish the central bank of the new republic Initially the region continue make use of seized Nigeria pound to be used in exchange for it's goods and services within her territory and also as means of foreign exchange with the international community. The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. The tables also include key debt The tables also include key debt ratios and the composition of external debt stocks and flows for each country. Freedom. Lawmakers Invade Customs for Auctioned Containers, Vehicles. The World Bank is an international organization that offers developmental assistance to middle-income and low-income countries. Change ), You are commenting using your Facebook account. Portugal was an early supporter of Biafra, and by October 1967 Biafra had established a private mission in Lisbon. the 5-shilling note repeats ‘Bank of Biafra Five Shillings’. – Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. Biafra Nigeria World, masterweb, Biafra-Nigeria, Nigeria-Biafra war, BNW News, ICJ, Cameroon, nigeria villagesquare, Biafra, ... World Bank Endorses BPE, Others . While the coup was unsuccessful, it resulted in the deaths of the Prime Minister of Nigeria, the Premiers of the Northern and Western Regions, the federal Minister of Finance, and a number of senior army officers. ), 1967 – October 25 (25g); May 29 (1e); June 9 (7d), 1968 – January 3 (5d); January 23 (1e); January 26 (4g); January 30 (4h); April 17 (10f); June 20 (4h). Most of us are familiar with the Biafra map of between May 30, 1967 and January 15, 1970 (the old Biafra.) During the war, a number of international relief agencies were delivering food and medicine to the war-ravaged Republic. Two days earlier an aeroplane carrying £7 million of Nigerian currency was seized at Lomé in Togo. – Cronje, Suzanne (1972) The World and Nigeria – The Diplomatic History of the Biafran War 1967 – 1970, Sidgwick & Jackson, London. On 27 January 1968 Gen. Ojukwu declared to the 7, ‘I understand that some women in the villages said that if this money [. The Bank of Biafra Decree also stated that all property held in the republic by the Central Bank of Nigeria was to be transferred to the Bank of Biafra. Those in the drawer with Nigerian currency was seized at Lomé in Togo Governor ’ and a half years with... Of £10, £5, £1, 10/- and 5/- 20 shillings = 240 Pence, 1967-70 Nigeria... Enterprises in the Republic. ’ ( Ojukwu, C. Odumegwu ( 1969 ) Biafra – Britain ’ s Limited. 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