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. The first Biafran banknote was introduced in 1968 which replaced the Nigerian currency. Security printers usually use paper, particularly paper with high linen and cotton content, which is not treated in such a manner.). Several years later, in 1963, Nigeria became a republic, but it was being plagued by power struggles; and, like so many modern African nations, these power struggles centred around ethnic groups. The 2017 tax cut cost $1.5 trillion, blowing the deficit past the trillion dollar mark this year. Money was also being raised from outside the republic. By that same decree, Nigeria currency notes will cease to be legal tender in Biafra. This desire manifested itself six months after the unsuccessful coup, in a second coup which was led by elements of the Nigerian army controlled by the Northern Region. 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. The leaders of this movement were close to the Military Governor, and from late 1966 it seems that plans were being put in place for the Eastern Region to secede. (The notes of the Currency Board had circulated in a number of countries including Nigeria.). The discovery and exploitation of large oil and gas reserves have contributed to dramatic economic growth but fluctuating oil prices have produced huge swings in GDP growth in recent years. Shop with confidence. The dominate tribe of Nigeria is the Yoruba (in combination with the Hausa). But, they have zero influence over the activities of Biafrans overseas; these Biafrans put on a successful worldwide demonstration (WWD) at the close of the month of May 2005 during which they sensitized the rest of the world--from Canada to South Africa, Austria to Gabon, and from Ireland to Ukraine to the case for Biafra, pressing for the support of self-determination as a natural and moral right, and as a right ratified by UN Charter. $89.00. 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. 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. In January 1967 the Eastern Region began impounding the rolling stock of the Nigerian Railways and seizing goods at Port Harcourt that were the property of federal authorities. BANKNOTES. Under this decree the functions of the bank were established: The Bank shall carry out all the central banking functions in the Republic including the administration of foreign exchange and the management of the public debt of the Republic.. 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. The war continued for two and a half years, with Biafra finally capitulating on 15 January 1970. Europa Year Book (1968) Europa Publications, London. Currency itself seems to have been a subject close to Ojukwu (or one of his advisers), as we find the following clause in instructions sent to the delegates of the Eastern Region who were negotiating with Nigeria prior to secession. 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. 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 Biafras use of Nigerian currency in purchasing foreign exchange. Colonel Odumegwu Ojukwu (1933–2011) from 6 July 1967 to 15 January 1970. BIAFRA - 1 Pound, découvrez nos billets du monde pour collectionneur sur notre site numismatique de billets de collection. My wife came to me in the morning, ‘Sir, we need N5,000.’ “Naira was powerful then. (From other reports in the press at the time, this appeared to be the general rate available for the notes. 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 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. 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. 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. 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. Under the decree, the central office of the Bank of Biafra was to be in Enugu, which was the capital of the Republic. No monetary fee to join To the left! 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. It is both bigger than the us dollar and pound, it is recognized in the world bank reserve but not yet as a legal tender. 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. Mezu, S. Okechukwu (1971) Behind the Rising Sun, Heinemann, London. The Biafran conflict is well documented, with many works addressing the struggle from both sides. Their use was very popular amongst the Ibos until recent times and they were only demonetised during the 1940s. It is not known whether the sets were sold at the behest of the Biafrans, or by their agents in an effort to recoup unpaid costs. Banknotes by Country; Zimbabwe. Equipment had to be bought quickly, and (of course) had to be paid for. 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). By far the most important strategy of the Biafrans in their quest for foreign exchange, was the conversion of their holdings of Nigerian currency. The Spirit of Biafra is indomitable and indestructible. The Biafrans, on the other hand, claimed that by the end of January 1968 they had collected more than £53 million. 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. 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. Einzig, Paul (1949) Primitive Money, Eyre & Spottiswoode, London. Notes from the missing cache of one pound notes from Benin started appearing in Lagos in October (just two months after they had been seized) and doubt remains as to wh! The Biafra Telegraph. 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. lines drawn by a geometric lathe). The Biafran pound was the currency of the breakaway Republic of Biafra between 1968 and 1970. Ultimately the speculator! The machinations of the various political elements caused Nigeria to lurch from one political crisis to another in the early years of nationhood. 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. 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. Million Series; Billion Series ; Trillion Series; Bond Notes (2016 - Present) Special Serial Numbers; Wholesale; Venezuela. 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. However, matters became critical in January 1966 when a number of junior army officers attempted a coup. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under Decree No. Also on the back of the 5-pound note is a picture of a woman weaving on a hand loom. 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. 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. recent questions recent answers. 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). Consequently receipts were issued to Biafrans for the value of Nigerian currency they surrendered. (Titled men are part of traditional societies or brotherhoods.). 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 ! The total value of each series printed, based on the numbers extrapolated above, was £50 million for the first issue and £148.5 million for the second issue, making a total of £198.5 million. While this amount may seem large, it must be remembered that Biafra had a population of 14 million, and the amount in circulation would equate to £10 per person at the most optimistic estimate. The small print appears as continuous lines, however the print is made less easy to detect by being overlaid with a pattern of lines the pattern being different on each denomination. 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. The 1968 Biafran bank note issue was not only an emergency issue, it also faced the trials and tribulations of the country it was serving many of the notes not making it to Biafra. Wharton was subsequently fired and a new supply route established. 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 I still have them with me. 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. Keesings Publications Limited Keesings Contemporary Archives Volume No.XVI 1967-1968 London. The editorial comment is therefore either incorrect (the recall may have been for the interim receipts), or the currency was issued earlier than Ojukwu stated; and one source does give the date of issue as 10 January. 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. Not surprisingly, the coup generated a deal of confusion and animosity across Nigeria, ultimately resulting in violence. These undelivered notes were sold into the collector market once they became unusable, and were sold in such numbers that the market became flooded. In an effort to take firm control of the country, General Ironsi was appointed by the Nigerian cabinet to head a federal military government. 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. Biafra Referendum must surely come as Nnamdi Knau and all the IPOB members are looking forward to the next meeting with the EU, US, and UN for the Biafra announcement. 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. A Chieftain of the All Progressive Congress, APC, Comrade Chinedu Ogah has alleged that the leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu is using the agitation for Biafra to siphon money from different categories of Nigerians. The Biafra Zionists Federation, BZF, has disclosed plans to launch new currency as part of their push for a Republic of Biafra. Pick Publishing Corporation (1971) Picks Currency Year Book 1970, New York. Under a separate decree Decree No.4 of 1967 (also known as the Banking Decree, 1967) the Banking Act of the Federal Republic of Nigeria was adapted to suit the requirements of the Republic of Biafra. 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. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to one Nigerian pound. Click here for collectible banknotes! 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. The two notes of the first series have a common front, although they are different sizes and different colours. the 5-shilling note repeats Bank of Biafra Five Shillings. Secession that failed time Magazine, January 26 1970, new York, £5, £1 A/A to 40... 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