We had to arrange and conclude the exercise in a hurry. From April 1967 payments to federal-owned concerns (and employees) were stopped, import licenses to the region were with-held, and all foreign exchange standing in credit of the regional government was seized. To search an expression, simply put quotation marks around it. Above the shield is an eagle clutching a tusk or horn, and representations of the eagle appeared on a number of Biafran coins. Banknotes by Country; Zimbabwe. 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. Historian argued that it might be one of the factors while British was angry with Ojukwu to name an African State currency Pounds. The back of the 10-shilling note uses the manilla in the same manner as the 5-shilling note (enclosing the value of the note in a white disc) and has a picture of an oil refinery – possibly the one at Port Harcourt. 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. Wharton was subsequently fired and a new supply route established. Biafra oil refinery will be one of the best in the whole world according to the information gathered from the right source, using the $200Billion US Dollars for building an oil refinery in the Biafraland and as well for the development of Biafra ahead of Biafra independence he said. of over 40% their face value. Example: Martin Luther -King. Le nom Biafra vient du golfe du Biafra situé au sud, sur la côte atlantique, lui-même nommé daprès le nom  Biafara  de la capitale d'un État resté mystérieux mais localisé par les marins portugais au XVe siècle en retrait de la côte, entre l'ancien royaume du Bénin et le Loango. When the Nigerian government announced that the old currency would no longer be legal tender after 22 January 1968, there were frantic efforts by the Biafrans to exchange their holdings. Click here for collectible banknotes! (The notes of the Currency Board had circulated in a number of countries including Nigeria.). While the continued acceptance of old Nigerian notes encouraged the continued activities by smugglers, by January 1969 the old Nigerian Pound had become almost unacceptable on the black market, worth only the merest fraction of its face value. Another external source of revenue that was rumoured to have come to the Biafrans, was an advance of six million pounds against the promise of mineral rights. The reports indicate that Rothschild was prepared to pay twelve shillings and sixpence in British currency for each Nigerian pound. Intermittent reports continued to appear in the international press in late 1967 and early 1968 of foreign nationals attempting to smuggle Nigerian currency into Nigeria. 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. 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. The first notes denominated in 5 shillings and £1 were introduced on January 29, 1968. The production of our currency notes could not be of the highest quality.’ (Ojukwu, 1969). For the first series, there are only two known serial number prefixes, while for the second series there are four prefixes. Ultimately the speculator! 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. The shield contains the rising sun, plus three manillas linked together over an area divided into three parts, which are properly coloured red, black, and green. 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. ether they were brought back to Lagos by Nigerian soldiers, or by speculators in Nigerian currency who may have bought them at a discount from the Biafrans. Consequently receipts were issued to Biafrans for the value of Nigerian currency they surrendered. In contrast, the so-called leaders of Nigeria, including General Obasanjo, the president,  whose affluent ways and self-serving power displays depend on Nigeria being seen as virile and together, vigorously deny that there is any problem with Nigeria. The Biafra Zionists Federation, BZF, has disclosed plans to launch new currency as part of their push for a Republic of Biafra. La république du Biafra (Bịafra en alphabet pan-nigérian) était, entre les années 1967 et 1970, un État sécessionniste situé dans la partie sud-est du Nigeria, la plus riche en réserves de pétrole. Ogah, who made the claim while addressing journalists in Abakaliki, the Ebonyi State capital, over the […] 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. While not known for certain how many notes were produced for circulation in Biafra, a reasonable estimate can be made by extrapolating the number of notes prepared for each known serial number prefix. 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. This desperate method of raising foreign exchange supposedly lasted only a brief period of time. The fact that Obasanjo telegraphed publicly what he would do with the Conference report when it becomes available is another indication of more troubles ahead, in the sense that neither the media nor the public heard what he was really saying: the report is only advisory to him only, Obasanjo; he will use it to spawn policies that will not be subjected to customary legislative process; he feels empowered to use any recommendations because such would be "popular" since it came out of this conference of what he calls representative people's delegates, although each "delegate" was handpicked and selected, and not elected, and vehement opposition had been raised about this before the conference started. The Governor of the Bank seems to have been Sylvester U. Uqoh (as deciphered from the signature on the Biafran bank notes), but the identity of any directors remains a mystery. Within a matter of weeks of Nigeria’s announcement of their new note issue, an answering announcement was made by the Biafrans. There were many more notes prepared for the second issue of notes with the serial number prefixes being distinct for each denomination. Some members of the Indigenous People of Biafra (IPOB) have called on Ndigbo to rally around to restore the sovereign state of Biafra said they do not need monetary assistance. Because the old Nigerian notes continued to be accepted in certain areas, the value of the old Nigerian currency was not entirely worthle! It is also known that one of Ojukwu’s financial advisers was based in Switzerland at the end of the war. Their use was very popular amongst the Ibos until recent times and they were only demonetised during the 1940’s. However in the case of the individual no more than £10 of the £30 could be made up with Biafran notes and in the case of the commercial enterprises the limit was £100. – Mezu, S. Okechukwu (1971) Behind the Rising Sun, Heinemann, London. There are people crossing the border and selling things. 3 of 1967’ (also known as the ‘Bank of Biafra Decree, 1967’). Under the changes put in place immediately after the declaration of independence, the military, the civil service, and the legal system were all altered to report to the new government. To make matters worse, one Biafran pound is worth 280 Naira! Also on the back of the 5-pound note is a picture of a woman weaving on a hand loom. With such an interesting attempt at ‘micro printing’ it would be pleasing to know where the notes were printed, but the printer of each issue is a mystery. Example: type "5 cent*" to find coins of 5 cents and 5 centimes. The official exchange rate at the beginning of 1968 was one Nigerian pound to one pound three shillings and four pence sterling – making the Rothschild offer approximately half its real value.) The two letter serial number were followed by a seven digit number. Get great deals on eBay! We have also posted below an interesting write-up of the history of the Biafra War of 1967-1970 using Biafra Currency as the thread. So it was merely a matter of changing the line of authority to the Military Governor of Biafra, rather than to the relevant Minister in the Nigerian government. BANKNOTES. Historical Exchange Rates For Nigerian Naira to United States Dollar 0.002570 0.002586 0.002602 0.002618 0.002634 0.002650 Aug 11 Aug 26 Sep 10 Sep 25 Oct 10 Oct 25 Nov 09 Nov 24 120-day exchange rate history for NGN to USD Quick Conversions from Nigerian Naira to United States Dollar : 1 NGN = 0.00261 USD The back of the 5-shilling note is very similar to the first issue, with the picture of the four Ibo girls and the manilla being used in the same manner. (Most types of paper have a high timber pulp content, and are treated with agents which brighten the paper and produce a surface which fluoresces under ultra-violet light. "Biafra Dollar" Date: Sun 06/05/05 05:03 AM : Sunday, June 05 2005 : ... One of the pounds looked new, the other is dirty. fty thousand. ), 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. Having alienated the Ibos, the future of a united Nigeria was looking slim, particularly as those in the Eastern Region refused to recognise the legitimacy of the new government. Search tips. The difference being that the Eastern Region’s arms had supporters of a leopard (on the left) and a man carrying a spear – an ‘Alo’ – (on the right), whereas the Biafran arms had two leopards supporting the shield. Consequently there were three currencies circulating in Nigeria – new Nigerian notes in the West and North, Biafran notes in the areas controlled by the ‘rebels’ and old Nigerian notes in those areas of the East which had been liberated by the Nigerians. GA to GW  (except GI & GO)      19 million, £1   BA to BZ  (except BI & BO)      24 million, CA to CZ  (except CI & CO)      24 million, DA to DX  (except DI & DO)      22 million, £5   WA to WF                         6 million, £10   ZA to ZC                         3 million. When Nigeria announced the introduction of their new note issue was to be on 3 January 1968, the Biafrans were still collecting Nigerian notes. Biafra Bank Newly Open In USA + Biafra Currency Will Have Same Value With US Dollar -World Bank 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. 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. The name given to the new state was ‘The Republic of Biafra’, the republic taking its name from the Bight of Biafra, on which it had its coast. One of the barriers to this loose association would have been the different currencies, but Ojukwu did not see this as an insurmountable problem, and his subsequent desire to retain the Nigerian currency for Biafra may be ascribed to his desire to retain a single unit of currency in a confederation of states (which is what he hoped his secession would bring). Nearly all bank notes are printed on paper which does not fluoresce under ultra-violet light, and the use of fluorescing paper for these notes points very much to it being an emergency issue. This action and the preceding blockade were the necessary catalysts that those in the east were looking for to show their hand. It is early June 2005. 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. Unissued copies of ten year bonds for the value of one thousand pounds, dated 15 June 1969 and offered through the London agents of the Republic of Biafra, are extant and show that this method of financing was attempted – although it is not known how many bonds were actually issued. Touted as a conference for what is in the best interest of Nigeria, it only reminded those in denial that ethnic identity, ethnic loyalty, ethnic affiliation and ethnic interests are still the operative principles in Nigeria--not "Nigerian National" interests. Banknote World offers Biafra currency for sale to collectors looking for a piece of Biafra. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under ‘Decree No. Time left 3d 11h left. They are out breeders, an artifact of their conversion to Christianity. In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. Records of the introduction of Biafran currency, which might confirm the dates in question, are few and far between. The notes are signed by the ‘Governor’ and a ‘Director’ of the Bank of Biafra. Banks would go for days without opening because there was no money for withdrawals, and when some was available it was rationed – people being allowed to withdraw no more than one pound a day. However, the first numeral in the serial number for all notes of the second issue is always zero. The National Political Reform Conference arranged, funded (illegally) and teleguided by Obasanjo himself, is about to wind up,  pretending that it has been successful, although the fragmentation of interests along ethnic and regional lines is the most visible outcome--not surprisingly. Only several countries recognised Biafra during its secession – Tanzania, Zambia, Gabon, the Ivory Coast, and Haiti – while a number of other governments expressed support for the Biafrans, amongst these being the French, Rhodesian, South African, and Portuguese. 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. 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