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. – The New York Times newspaper – New York, U.S.A. (The references in brackets refer to the page and column number of the relevant article. The production of our currency notes could not be of the highest quality.’ (Ojukwu, 1969). We are not going to use pounds anymore because it’s a symbol of British government oppression against Biafra. – Ojukwu, C. Odumegwu (1969) Biafra – Selected Speeches and Random Thoughts, Harper & Rowe, New York. – Waugh, Auberon & Cronje, Suzanne (1969) Biafra – Britain’s Shame, Michael Joseph, London. According to documents illustrated in the Daily Times (Lagos) on 9 August 1967, the mineral rights – for columbite ore, uranium, coal, tin concentrates, natural oil, and gold ore – were ceded to the ‘Rot(h)schild Bros Bank’ for a period of ten years. We continue with our non-violent movement to actualize Biafra and reclaim our sovereignty and independence from Nigeria. Rumours as to what value the Central Bank of Nigeria would place on the Biafran notes became widespread, with many believing one rumour that twenty Biafran pounds would be given the value of one Nigerian pound. (Titled men are part of traditional societies or brotherhoods.). It goes to prove the point: Biafra is really here to stay. 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. 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. 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Many collectors will be familiar with the events of the Nigerian civil war, and equally there will be many younger collectors who have little or no memory of the events. The index is amid its third consecutive down week, and the dollar has declined in four of the last five weeks. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to one Nigerian pound. Money was also being raised from outside the republic. 5 Likes Re: 1 Biafran Pound = 682.66 Naira. When the Nigerians announced that they would no longer redeem bank notes exported from Nigeria after August 1967, the Biafrans worked quickly to gather bank notes remaining in circulation so that they could be converted into precious foreign exchange. It is regarded as a sceptre of power and authority, being carried by Ozo titled men, and as well as its symbolic importance it was also used as a weapon when necessary. Realising that the currency was unlikely to be accepted outside Biafra, Dr. Okigbo also stated that the lack of international acceptance and an according exchange rate was immaterial since the currency was intended only for circulation in Biafra. What is a 1 pound Biafran note worth in US Dollars? Biafra was an Igbo enterprise, who are a remarkable people. 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. On the back of the 5-shilling note is a picture of four Ibo girls, and surrounding the value of the note to the left is a ‘manilla’. The 1-pound note is again dominated on the back by the coat of arms, but lacks the ‘Alo’ (spear) of the first issue. (This occurrence being due to insufficient Biafran notes being delivered to replace the Nigerian currency, which had been extracted from circulation.). Biafra. Also on the back of the 5-pound note is a picture of a woman weaving on a hand loom. The use of this paper is the dominant security feature of the issue, however there is a very interesting attempt to use an early form of ‘micro printing’ on all notes of this series. Example: type "5 cent*" to find coins of 5 cents and 5 centimes. recent questions recent answers. It is probable that the two million Nigerian pounds captured in Benin were used by the Biafrans to finance their war effort. By the time the notes were introduced in 1969, the country controlled by the Biafran forces had been reduced to a circular area approximately 85 miles across (roughly 5,000 square miles) and all consumables had long been sold. The sale of undelivered notes included remainders as well as notes in issued form. Records of the introduction of Biafran currency, which might confirm the dates in question, are few and far between. 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. Depending on which direction the code is read, the marks on the 5–shilling notes can be decoded as: ‘E T E M N E N I R’ or ‘R I A E A M E T E’, ‘M T E M N E N I W’ or ‘G I A E A M E T M’, (The leading and trailing codes may be truncated, and these particular letters may not be correct. The Biafra Zionists Federation, BZF, has disclosed plans to launch new currency as part of their push for a Republic of Biafra. The two letter serial number were followed by a seven digit number. Search tips. To purchase military equipment on the open market, Biafra had to have foreign exchange, and the efforts of the Biafrans to obtain this foreign exchange were quite exhaustive and quite varied. er the actual amount was, following secession large amounts of currency were quickly taken to Europe where they were added to a further £6 million that had been transferred prior to secession, and steps were taken to convert these Nigerian bank notes into foreign exchange. Power was being concentrated in the hands of a few factions in each region, and nationally there was a great deal of political jockeying between the major ethnic groups – particularly the northern Hausa against the southern Yoruba and Ibo. 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. Cargoes of arms and ammunition bought by Biafra are dumped into the sea during airflight. Our new currency notes, along with our new postage stamps, will be issued to the public on January 29, 1968.’ (Ojukwu, 1969). This, of course, has not escaped the watchful eyes of the US Intelligence which comes out with an Intelligence Report on Sub-Saharan Africa (SSA)  predicting that within the next 15 years, Nigeria will totally collapse. 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. Adeboye said, “During our first Convention here at the Redemption Camp, I was bold, I asked everybody to come, free feeding. I still have them with me. 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. These undelivered notes were sold into the collector market once they became unusable, and were sold in such numbers that the market became flooded. Africa; Sport; Nigeria; World News; Politics; Opinions; Gallery; World News 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’. If this is intended to imitate a Morse code thread, then one can only wonder what the Morse characters are meant to spell. It has also been suggested that the money ultimately fell into the hands of Nigerian soldiers who failed to declare their discovery. It will become powerful again. 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. These Swiss connections support the argument of one or more issues being printed in Switzerland. Because 13 tons of the notes arrived in an aircraft registered in Rhodesia, a country with which Switzerland had no diplomatic relations, the Swiss authorities refused to let the cargo be unloaded and the aircraft was forced to continue to Lisbon. This prediction is now right on the mark: when Obasanjo gets the Conference report, he can do anything with it and to it. That means naira was 3.1% stronger than the dollar, given that it exchanged at 485 on Wednesday. Possible answer. 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. While peace and order were steadily re-established by the Military Government, the stability was being undermined by the desire of the Northern Region to secede from the Federation. (From other reports in the press at the time, this appeared to be the general rate available for the notes. No monetary fee to join In addition to the notes that circulated in Biafra, and those which were dumped into the sea (first series), there were also thousands of undelivered notes that survived the war. 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. Not surprisingly, the coup generated a deal of confusion and animosity across Nigeria, ultimately resulting in violence. The notes were reported to be on transfer from the Banque Populaire Suisse in Basle to a bank in Ibadan (in Nigeria), but were handed over to the Nigerian government by the Togolese authorities. 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. When Nigeria announced the introduction of their new note issue was to be on 3 January 1968, the Biafrans were still collecting Nigerian notes. 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. A series of coins was issued in 1969; 3 pence, 6 pence, 1 shilling and 2½ shilling coins were minted, all made of aluminium. Although Biafra had made a concerted effort to produce the second series of higher quality bank notes, it would appear that their circulation was limited. Colonel Odumegwu Ojukwu (1933–2011) from 6 July 1967 to 15 January 1970. lines drawn by a geometric lathe). Top Rated Plus. On 22 January, seven suitcases filled with Nigerian currency worth £252,000 were discovered at London Airport after one of the suitcases split open. After Biafra's declaration of independence from Nigeria, Nigeria attacked Biafra with British and Soviet military support.. Biafra was formally recognized by Gabon, Haiti, Ivory Coast, Tanzania, and Zambia. – Steiner, Rolf (1978) The Last Adventurer, Little, Brown and Company, Boston. When Col Ojukwu declared Biafra he organized his finance and the money currency in circulation was called Biafra pounds. 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. 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. After some months of preparation, the federal government launched their first offensive against ‘Biafra’ on 6 July 1967, and the Nigerian civil war began. They came, I ran out of money. Under the decree, the central office of the Bank of Biafra was to be in Enugu, which was the capital of the Republic. 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.) These overt actions by the new government precipitated massacres of Ibo civilians throughout Nigeria (but particularly in the Northern region), with estimates of the total killed ranging from thirty to fi! – Einzig, Paul (1949) Primitive Money, Eyre & Spottiswoode, London. 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. Certain that no great force would be required to subdue the rebel government, the Nigerians prepared for what they referred to as a ‘police action’. Because many of the officers involved in the coup were Ibos, and because the Premiers of the Eastern and Mid-West Region (who were both Ibos) remained unharmed in the coup, it led many to believe that the coup was promoted by the Ibos. 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. 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. Price . 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. As new members, you will receive great benefits provided by the society. There is no ties to human blood. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under ‘Decree No. 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. Such a unilateral inflationary decision could damage the economy of the component parts. Once the new notes were introduced, the federal government could stop redeeming notes of their current issue, and by that process make the Biafran holdings worthless – consequently, the Biafran holdings were forced to be sold at a discount. (The vaults had held twelve million pounds, and the other ten million pounds were left untouched, it seems there was just too much money for the retreating forces to carry.). However, yet another estimate stated that £30 million were circulating in Biafra at the point of secession, with further reserves of £40 million being held in the bank vaults of the Central Bank in Enugu and Port Harcourt. I wondered why such money would be in circulation. The notes of the second series are printed on non-fluorescing paper embedded with red and blue fibres. The headquarters of the Bank of Biafra were known to be located in Port Harcourt in early 1968, but the town fell to federal troops on 19 May of that year, and the headquarters of the Bank were probably relocated several times due to the fluctuating fortunes of the Republic. – The Secession that Failed Time Magazine, January 26 1970, pages 18-24. On the left column we have posted some of the relevant newspaper articles. 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. We had to arrange and conclude the exercise in a hurry. 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. 6 bids. When Biafra declared its independence, it was drastically short of equipment to fight the war, despite the declarations of Lieut.-Col. Ojukwu. Ogah, who made the claim while addressing journalists in Abakaliki, the Ebonyi State capital, over the […] fty thousand. Global asset markets have come off the boil, and many market narratives are talking about the good news on Covid vaccines and the clearing political picture in the U.S. having been "priced in." There is the possibility that the Biafran currency was actually introduced earlier than stated, for in an interview at Umuahia on 18 January 1968, Gen. Ojukwu made the following comment: ‘I understand that some women in the villages said that if this money [during the recall of Nigerian currency for Biafran currency] was wanted for the war they did not mind; the government should take it all.’ (Ojukwu, 1969). Time left 3d 11h left. Because the old Nigerian notes continued to be accepted in certain areas, the value of the old Nigerian currency was not entirely worthle! Nigeria is writhing her way through the throes of imminent collapse. During the war Biafra reported terrific atrocities by the Nigerians against her people, and reports of starvation which cost hundreds of thousands of Biafran lives became widespread. 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 reports indicate that Rothschild was prepared to pay twelve shillings and sixpence in British currency for each Nigerian pound. 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. The Biafra Telegraph. 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. However, Nigeria saw the Biafrans as rebels who were seizing control of the Eastern Region, and determined that force was necessary to bring the recalcitrant state back under the control of the central government. The machinations of the various political elements caused Nigeria to lurch from one political crisis to another in the early years of nationhood. 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. 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. Banknotes by Country; Zimbabwe. Each member will receive an instant sum of $600,000 dollars, a car of your choice, and a free home anywhere you chose to live nationally or internationally which includes a $3,000 monthly based income. 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. To have a better understanding about biafran currency notes, you can visit Mintage World … Fuertes 2007 - 2018; Soberanos 2019 - Present; Wholesale; New Arrivals; Iraq. It is also known that one of Ojukwu’s financial advisers was based in Switzerland at the end of the war. Edujandon.com reports that this development is coming a few weeks after the self-acclaimed President of Biafra, Barr. – The Times newspaper – London, United Kingdom, (The references in brackets refer to the page number and column location of the relevant article. 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. However they are an intriguing set of notes and will provide a collector with a complete set of a ‘country’ for an affordable price. – Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. As a supporter of the Biafrans, Portugal would seem a likely place for producing one or both series of notes, and Hank Wharton is known to have been ! 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. Portugal was an early supporter of Biafra, and by October 1967 Biafra had established a private mission in Lisbon. 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. 3 of 1967’ (also known as the ‘Bank of Biafra Decree, 1967’). 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. (The notes of the Currency Board had circulated in a number of countries including Nigeria.). $50.00 to $350.00 - apply Price filter. Forestry and farming are also minor components of GDP. – The palm tree was important because of its economic significance to Biafra – next to oil, products from the palm trees were the most valuable exports from the region prior to the new republic being declared. However, at the end of the conflict it was estimated that between £115 and £140 million in Biafran currency was in circulation, indicating that a large proportion of the currency was delivered into circulation. 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. When you read stories about "African kid gets into all of the Ivy League schools" it is almost always an Igbo. ‘The question of central banking and coinage is something which must be very carefully looked into. Get great deals on eBay! So, on 30 May 1967, the Eastern Region was declared an independent republic by Lieutenant-Colonel Ojukwu. 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. There were of course many stories of enterprising Nigerians who were buying the Biafran holdings in Europe at a discounted rate, and shipping them back to Nigeria where their full value could be obtained. By far the most important strategy of the Biafrans in their quest for foreign exchange, was the conversion of their holdings of Nigerian currency. Manillas are a type of primitive money that were in use in Nigeria for hundreds of years. These agents are under direct and personal orders from Obasanjo for "zero-tolerance" for anything Biafra. During Nigeria’s ‘final thrust’ of August 1968 (which proved not so final), Wharton’s planes did not arrive when needed. While the Biafrans seem to have rejected this offer, it is likely that some conversion did take place (though not necessarily through Rothschild) – as Gen. Ojukwu stated in February 1969: ‘We have been fighting the war with Nigerian foreign exchange, plus of course, what we converted or what we acquired earlier on.’ (Ojukwu, 1969), The reference to ‘what we acquired earlier on’, possibly refers to a windfall to the Biafrans in 1967. 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. One of the members who stole the centre stage during the burial of their members called on Igbos and leaders from the South-East extraction to give them moral support and allow them to be at the forefront of the struggle. Example: A search for "1 franc" is more precise than 1 franc. s got ‘burnt’, as the Central bank decided that there would be no exchange of Biafran currency for Nigerian currency, deciding instead to pay a flat rate of twenty Nigerian pounds to each depositor of Biafran or old Nigerian currency with the Central Bank. The massacres, not surprisingly, created much fear amongst the Ibos living outside the Eastern Region, and in the weeks following the massacres (September 1966) some two million Ibos gave up their homes and businesses to seek refuge in their eastern homelands. Ultimately the speculator! However the ‘Alo’ makes its reappearance on the back of the 5-pound note, this time having a white disc with the coat of arms laying over its shaft. The Biafra Zionists Federation, BZF, has disclosed plans to launch new currency as part of their push for a Republic of Biafra. 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. With the short time at our disposal, we could only produce notes in denominations of £1 and 5/-; we could not produce coins. 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. Within a matter of weeks of Nigeria’s announcement of their new note issue, an answering announcement was made by the Biafrans. This is supported by a statement by Dr. Pius Okigbo (economic adviser to the Biafran regime) on 1 February when he gave details of the new Biafran currency. 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). Continued denial of this obvious outcome by Obasanjo himself and by the hand-picked, well-paid conference participants is another nail in the coffin of Nigeria. On the other hand, the retention of Nigerian currency may simply have been to provide a recognised circulating medium, and to provide some legitimacy to Biafra’s use of Nigerian currency in purchasing foreign exchange. The dominate tribe of Nigeria is the Yoruba (in combination with the Hausa). Use a dash to exclude the coins matching with a word or expression. Of the various symbols used in the design of the Biafran bank notes (both issues), several were very important. 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