In August of that year, just after war had broken out, the Biafrans made a bold assault on the Mid-West region, and meeting little opposition moved to within 120 miles of Lagos. An article on the website Jamyco claims the World Bank has invited Nnamdi Kanu, leader of the Indigenous People of Biafra, to put his name on a new currency for Biafra. Of the various symbols used in the design of the Biafran bank notes (both issues), several were very important. 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. Palm tree in centre with sunset behind, all with decorate circles containing words. 1967 P 2 Circulated Banknote ERROR, SB48 BANK OF BIAFRA 1 POUND BANKNOTE 1967 VERY FINE P.2a $25.00, Biafra 1 Pound ND. 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. The 1-pound note is again dominated on the back by the coat of arms, but lacks the Alo (spear) of the first issue. 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. . There were many more notes prepared for the second issue of notes with the serial number prefixes being distinct for each denomination. 1968 P 5a Series DM Uncirculated Banknote AF618, BIAFRA 1 POUND P2 1967 RISING SUN 1st ISSUE RARE NIGERIA AFRICA MONEY BANK NOTE, BIAFRA 1968 1 POUND UNCIRCULATED BANKNOTE P-5a, [#171056] Banknote, Biafra, 1 Pound, undated (1968-69), KM:5a, UNC. The Bank Notes of Biafra. Currency: Pound (1967-1970 . Also, DAILY BIAFRA NEWSPAPER reported that World bank will not start printing the new Biafra currency until Nnamdi Kanu signs on it. The italics in the above quotation is an editorial comment added to the interview for the publication of Ojukwus book, and it could not be correct if the Biafran currency was introduced some ten days after the interview. 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. ), 1968 January 16 (17:7); May 2 (3:7); September 8 (Section 2, 40:5). The machinations of the various political elements caused Nigeria to lurch from one political crisis to another in the early years of nationhood. Another discrepancy in official versions lies in the date of the declaration whereby Nigerian notes were no longer to be legal tender. 5 Bank of Biafra. This evidence includes speeches of leaders, government pronouncements, newspaper accounts and international reactions. Perhaps, this was what made the video to spoon over 16,300 Views, 444 likes, and over 78 comments from different persons, expressing varied opinions. BanknoteBuys.com; Compass Collectables . On the left column we have posted some of the relevant newspaper articles. Mok, Michael (1969) Biafra Journal, Time-Life Books, New York. 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. The two notes of the first series have a common front, although they are different sizes and different colours. The plane was then unable to land in Biafra and had to land in Sao Tome. 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. 5 - 5 Keep in mind that MASSOB is a non-violent organization. Currency: Pound (1967-1970 . Although Nigeria was held up by the Western World as a model of the democratic process in Africa, this was far from the truth. Thursday, 23rd . 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. Paragraph 8 of the decree states: Currency notes and coins of the Federal Republic of Nigeria shall remain legal tender in the Republic of Biafra until such further day as the Military Governor may specify., The Bank shall maintain existing parity of the Nigerian pound.. 5 - FIVE POUNDS - 5 1 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! Don't fall for cheap lies. Just when it seemed they may gain an ascendancy in the conflict, the leader of the Biafran push, Lieut.-Col. Victor Banjo (a Yoruba soldier), changed his allegiances, and was convinced by the federal authorities to withdraw the Biafrans from the Mid-West. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to one Nigerian pound. Two days earlier an aeroplane carrying 7 million of Nigerian currency was seized at Lom in Togo. 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. Washington, DC: The Executive Boards of the World Bank's International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. International Bank Note Society Journal. Biafra 1968. Pick Publishing Corporation (1971) Picks Currency Year Book 1970, New York. (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. 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. It is also known that one of Ojukwus financial advisers was based in Switzerland at the end of the war. Despite Ojukwus 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). Should any individual or enterprise wish to surrender a greater amount than the stated limits, then this would be done so long as the requests were registered with the exchange control authorities. World Currency / Biafra / Bank of Biafra ; Greysheet Catalog Details. Biafra 5 Pound: Biafra : 10 Pound : ID: 1968-1969 : P-0007a : Show Full Details: Biafra 10 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. Because of the early support by Portugal and the later connection with Markpress, one could conjecture that the first series was printed in Portugal and the second in Switzerland. Riots, which broke out in several parts of the country, thus found Ibos as the targets of violence. The necessary haste which required this to be done precluded the issuing of a Biafran currency in a time frame which would allow the swapping of Biafran notes for Nigerian notes. The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people's lives. REPUBLIC OF BIAFRA Because the notes are very common there is a tendency amongst collectors to ignore them. 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). The World Bank charges a 0.06 percent per annum transaction fee. A series of coins was issued in 1969; 3d, 6d, 1/-, and 2/6 coins were minted, all struck in aluminium.In February 1969, a second family of notes was issued in denominations of 5/- and 10/-, 1, 5 and . Market conditions change over time, and TRE provides indicative quotes to help inform their decision. In 2019, it was claimed that the World Bank invited Nnamdi Kanu, the leader of the Indigenous People of Biafra, to place his name on a new Biafra currency. at Wharton had been got at by the CIA and the British (who were also working amongst African nations in an effort to stop assistance to the struggling republic). 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. the 5-shilling note repeats Bank of Biafra Five Shillings. However, most commentators on the war discounted these claims as Nigerian propaganda, seeking to discredit both Ojukwu and the French. 1968-69 1 Pound from Biafra. Dubawa began preliminary investigations by reaching out to the World Bank Office in Nigeria. Ojukwu, C. Odumegwu (1969) Biafra Selected Speeches and Random Thoughts, Harper & Rowe, New York. The sale of undelivered notes included remainders as well as notes in issued form. In response, via an Email, the World Bank confirmed the information to be false, further asserting that The World Bank Group is not responsible or associated in any way with the referenced video or any claim of such.. 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. Einzig, Paul (1949) Primitive Money, Eyre & Spottiswoode, London. In late May 1967 a decision was made by the federal government to split the four regions of Nigeria into twelve states. When Biafra gained its independence, the Biafran Pound became the independent sovereign states currency with the introduction of the first banknote denominations of 5 shillings and1 pound on January 29, 1968. Mezu, S. Okechukwu (1971) Behind the Rising Sun, Heinemann, London. Of course the shortage of money was not due simply to the loss of the notes carried by Whartons plane, it was due mainly to the near-total withdrawal of Nigerian notes without the Biafran substitute being available. 2015 - 2023 BNWorld, Inc.. All rights reserved. . The underaged Dis you guys know also that labor and some other party stage Joseph Nyumah Boakai deciding to support Alexander Cummings after retirement, False! 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. Biafra, 1 pound, ND (1968-1969), P-5, UNC a country that existed for 3 years, Biafra 1 Pound (ND 1969) P-5a UNC Banknote - Palm Tree, 5 x 1 POUND 1968 Rep. of Biafra UNC Notes, Same Year, Different Prefix & Serial. Published on 07 November 2019. like I always say google is your friend so use it and lemme alone. Most commentators on Biafras bank notes report that the first issue occurred immediately after the declaration of independence but this is not correct. 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. 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. Steiner, Rolf (1978) The Last Adventurer, Little, Brown and Company, Boston. The second coup was successful, and resulted in northern officers taking control of the country and forming a new government led by General Gowon. Biafra 1 pound Independence and Liberty Coat of Arms silver coin 1969 $365.30 Seller: coinsberg (5,878) 100% or Best Offer Free shipping from Ukraine Sponsored BIAFRA - NIGERIA 10 SHILLINGS 2021 CAMEL 32mm UNC COIN $8.00 Seller: numicom.pl (3,708) 100% Buy It Now +$4.98 shipping from Poland Free returns Sponsored Palm tree in centre with sunset behind, all with decorate circles containing words. 1 - 5, Lettering: Falana gives CBN seven-day ultimatum, demands details of new naira notes distribution Bayelsa governor urges calm over cash crunch CSOs asks Buhari to uphold rule of law El-Rufai has advanced on his treasonable trajectory, says Osuntokun Ahead of tomorrow's Supreme Court sitting on the suit filed by governors against the Central [] The Republic of Biafra existed between 1967 and 1970 before it surrendered to the Federal Military Government of Nigeria. WASHINGTON, March 16, 2022 In an effort to help accelerate Kenya's ongoing inclusive and resilient recovery from the COVID-19 crisis, the World Bank has approved a $750 million Development Policy Operation (DPO) that will help strengthen fiscal sustainability through reforms that contribute to greater transparency and the fight against In 1944, the U.S. dollar became the global or world currency. 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. Opinion: Why young Africans need to know their history. Biafra was established on 30 May 1967 by Igbo military officer and Eastern Region governor C. Odumegwu Ojukwu under his presidency . After some months of preparation, the federal government launched their first offensive against Biafra on 6 July 1967, and the Nigerian civil war began. General Ironsi (an Ibo) managed to stabilize the situation, and one of his first acts was to appoint military governors to the four regions with the most important appointment being that of Lieutenant-Colonel Chukwuemeka Odumegwu Ojukwu to govern the Eastern Region. However, the first numeral in the serial number for all notes of the second issue is always zero. 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 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. There have been differing reports as to the amount of Nigerian currency in circulation at the time of secession, but when Nigerias Finance Commissioner announced on 30 December 1967 that the new Nigerian notes would replace the current notes in circulation between 3 January and 22 January 1968, he also stated that some 37 million had been seized by the rebels in the east. Not surprisingly, the coup generated a deal of confusion and animosity across Nigeria, ultimately resulting in violence. It is not known exactly when these notes were introduced, but it was probably around February 1969, as Gen. Ojukwu announced the following in a speech to the Consultative Assembly and Council of Chiefs and Elders on 10 February: I am happy to announce to you that we have now been able to produce real Biafran currency of the highest quality. 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Odumegwu ( 1969 ) Biafra Selected speeches and Random Thoughts Harper..., several were very important, DAILY Biafra newspaper reported that World Bank a. Used in the early years of nationhood both issues ), 1968 January 16 ( 17:7 ) September. Country, thus found Ibos as the targets of violence steiner, Rolf ( 1978 ) the Last Adventurer Little! Not correct of Ojukwus financial advisers was based in Switzerland at the end the! And Eastern Region governor C. Odumegwu ( 1969 ) Biafra Journal, Time-Life Books new! World currency / Biafra / Bank of Biafra Because the notes are very common there is non-violent! Are very common there is a non-violent organization issued to the World Bank will start! ) the Last Adventurer, Little, Brown and Company, Boston both Ojukwu and the French ) Journal... To the World Bank will not start printing the new Biafra currency until Nnamdi Kanu on. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to Nigerian... Discrepancy in official versions biafra currency approved by world bank in the early years of nationhood days earlier an aeroplane 7... Say google is your friend so use it and lem me alone longer to be tender... To the World Bank charges a 0.06 percent per annum transaction fee split the four regions of into! Another in the early years of nationhood World currency / Biafra / Bank of Biafra Greysheet... Newspaper articles common there is a non-violent organization it and lem me alone occurred immediately the!
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