There are a number of ethnic groups in Nigeria with no group being a clear majority, however the Northern region was dominated by the Hausa, the Western by the Yoruba, and the Eastern by the Ibo (or Igbo). A video on this YouTube channel Biafra Generation claims that the world bank has approved the Biafran currency (what they termed as the Ejemme). The plane was then unable to land in Biafra and had to land in Sao Tome. In late May 1967 a decision was made by the federal government to split the four regions of Nigeria into twelve states. World. 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. More importantly, the interest rate in local currency reflects the terms the World Bank can obtain when hedging the currency risk. Please sign in or create an account to manage your collection. Dubawa has also contacted the claimant several times with no response so far. False! Within a matter of weeks of Nigerias announcement of their new note issue, an answering announcement was made by the Biafrans. 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. The news was shared on the Facebook page "Excess Honey and Sugar TV.". 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. After some months of preparation, the federal government launched their first offensive against Biafra on 6 July 1967, and the Nigerian civil war began. Meanwhile, the popularity of the originally planned Sovereign National Conference (SNC) of Ethnic Nations living in Nigeria (which Obasanjo tried now to preempt after initially and all along vigorously and unsuccessfully opposing) is rising. 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. Pro-Biafra militants have in turn killed scores of security and government officials, as well as civilians, in armed operations that have grown more frequent and daring. The machinations of the various political elements caused Nigeria to lurch from one political crisis to another in the early years of nationhood. 1967 (ND), BIAFRA 1 POUND BANKNOTE, CIRCULATED. Naira was Officially introduced in 1973 meaning 13 years after Nigeria independent, they were also using British currency and passports. 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. 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 video on YouTube claims that the World Bank has finally approved the Biafran Currency. The notes of the second series are printed on non-fluorescing paper embedded with red and blue fibres. In 1967, following two coups and turmoil which led to about a million Igbos returning to the south-east of Nigeria, the Republic of Biafra seceded with 33-year-old military officer Emeka Odumegwu. This index is based on the data of Numista members collections. These Swiss connections support the argument of one or more issues being printed in Switzerland. Long Reads. Bank of Ghana - Central Bank Bank of Ghana We formulate and implement monetary policy to achieve price stability, contribute to the promotion and maintenance of financial stability, and ensure a sound payment system. 5 - FIVE POUNDS - 5 It appeared that the Eastern Region was forcing the hand of the central government so in an effort to coerce them back under federal control, Lagos began to impose an economic blockade. 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. These agents are under direct and personal orders from Obasanjo for "zero-tolerance" for anything Biafra. 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. It was only been used by the igbo's and people who exchanged it at the rate you claimed were boarder town fools who were only hoarding it believing that one day, Biafra will exist. A south-eastern Nigerian secessionist state led by the Igbo community, the Republic of Biafra got its name from the Bight of Biafra. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. MASSOB property is brazenly breached and destroyed by the these brutal operatives. 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. 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 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 Republic of Biafra. 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. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Ivory Coast. 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 ! 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. Nigeria is one of the most multicultural states in the world, with over 500 languages being spoken. To have a better understanding about biafran currency notes, you can visit Mintage World and explore the world of currency notes. See Details. Biafra Gorgeous Crisp UNC Bill Note Currency, 1 Pound, BIAFRA NIGERIA 5 10 SHILLINGS 1 5 10 POUNDS 3 4 5 6 7 1968-1969 UNC COMPLETE SET, Great Historic Banknotes BIAFRA 1 POUND 1968-1969 P-5 UNC Lucky # DS0046555. There is also the usual text associated with any bank note the name of the country, Republic of Biafra; the name of the bank, Bank of Biafra; the promise to pay on demand the sum of ; and the value of the note, e.g. For example, a comment by one viewer seems to question the veracity of the claim: Why all these nonsense misinformation on YouTube?.Can you all stop these gabbage propaganda news that is being posted every minute by many people in the disguise interest of Biafra.I have no problem seeking to make money from You Tube but your approach is isnt healthy._Uche Ozoemelam. Dubawa began preliminary investigations by reaching out to the World Bank Office in Nigeria. Ultimately the speculator! 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. BANK OF BIAFRA $80.00 0 bids $5.25 shipping Ended China 1960s Banknotes $30.00 1 bid $5.00 shipping 1d 12h China 2 Jiao 1980 scarce unc $1.00 1 bid $5.00 shipping 6d 6h The Times newspaper London, United Kingdom, (The references in brackets refer to the page number and column location of the relevant article. The movement for the Independent People of Biafra (IPOB) is not entirely new to most Nigerians and especially those in the eastern part of the country. Records of the introduction of Biafran currency, which might confirm the dates in question, are few and far between. Also, DAILY BIAFRA NEWSPAPER reported that World bank will not start printing the new Biafra currency until Nnamdi Kanu signs on it. 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. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to one Nigerian pound. WEAVING. This video has been widely circulated on social media, causing great pleasure among many, with some suggesting that the Biafran Pound is more valuable than the Nigerian Naira. 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. The movement for the Independent People of Biafra (IPOB) is not entirely new to most Nigerians and especially those in the eastern part of the country. Calls to replace it have failed because it is the world's most widely traded currency. 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. 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 two notes of the first series have a common front, although they are different sizes and different colours. Lettering: REPUBLIC OF BIAFRA BANK OF BIAFRA Promise to pay on Demand the sum of . Modern issues 1961-present (25 th . Predominant colour: Purple. 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. This desperate method of raising foreign exchange supposedly lasted only a brief period of time. 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. 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. Since some users own several versions, the sum may be greater than 100%. Millions of Biafrans remained homeless, unemployed and bankrupt. Its territory consisted of the predominantly Igbo-populated Eastern Region of Nigeria. When Nigeria announced the introduction of their new note issue was to be on 3 January 1968, the Biafrans were still collecting Nigerian notes. Peter Symes . 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. Authorities say Ipob has been responsible for attacks. FIVE POUNDS - 5 Biafra digital currency is coming to save the situation ASAP but for now, follow the instructions. And, it is not just a souvenir: it is legal tender in those places. 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. The current regional distribution of 36 states was approved in 1996. . By Johnniepen (self media writer) | 1 year ago, Rumors have been circulating that the Biafran Pound is now being accepted in Italy since yesterday. C $4.02. The banknotes have various back designs. 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. The two letter serial number were followed by a seven digit number. 168. 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. The 5 shillings depicts four Biafran girls while the 1 pound shows the coat of arms. Under this decree the bank was to be administered by a board consisting of a Governor and not less than four Directors, who were to be appointed by the Military Governor. Not only was Nigeria taking steps to halt the flow of currency from Biafra, steps were also being taken to introduce a new series of bank notes which would be unavailable to the Biafrans. 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. I am worried by the news that the Federal Government, because of shortage of funds for its services, has authorised the printing of a large quantity of unbacked notes for circulation. (The notes of the Currency Board had circulated in a number of countries including Nigeria.). 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. During Nigerias final thrust of August 1968 (which proved not so final), Whartons planes did not arrive when needed. 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. 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 reports indicate that Rothschild was prepared to pay twelve shillings and sixpence in British currency for each Nigerian pound. News ), Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Latest World news news, comment and analysis from the Guardian, the world's leading liberal voice 20,851 Results Certification Year Type Grade Circulated/Uncirculated Condition Price Buying Format All Filters CHINA 1949 HAINAN BANK 1 YUAN BANKNOTE RARE VERY CRISP XF.P-S#1457. The first Biafran banknote was introduced in 1968 which replaced the Nigerian currency. 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 pound (symbol ) was the currency of the breakaway Republic of Biafra between 1968 and 1970.. Currency: Pound (1967-1970 . So, on 30 May 1967, the Eastern Region was declared an independent republic by Lieutenant-Colonel Ojukwu. The first notes denominated in 5 shillings, 1 were introduced on January 29, 1968. 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