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. The first issue of the bank notes included only 5 shillings notes and 1 pound notes. 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. 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. 1 - ONE POUND - 1. 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 However, most commentators on the war discounted these claims as Nigerian propaganda, seeking to discredit both Ojukwu and the French. 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. Under the decree, the central office of the Bank of Biafra was to be in Enugu, which was the capital of the Republic. Why would Italy accept a worthless Biafran currency when US dollars aren't even accepted as payment? 1 - 1. Thank you for subscribing to the newsletter! 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. 2x Biafra Banknote 1 Pound 1968 ND P 5a *UNC* Consecutive Serial #s ! Another of Whartons planes had been destroyed mysteriously in Bissau (in Portuguese Guinea) shortly before this, and another had been impounded in Athens, leading the Biafrans to believe th! We hope you enjoy shopping at BNWorld, Inc. Mon-Fri 8:30am-12:30am (Order cut-off for deliveries using USPS is 12:00pm and FedEx before 3:00pm (PST)), Graded Special Condition and Serial numbers, Venezuela Bolvar Digital (Digitales) 2021, Iraqi Dinar for ZImbabwe Dollars or Venezuelan Bolivar, Indonesia Rupiah for ZImbabwe Dollars or Venezuelan Bolivar, Vietnam Dong for ZImbabwe Dollars or Venezuelan Bolivar, Mixed Banknotes for ZImbabwe Dollars or Venezuelan Bolivar. Since some users own several versions, the sum may be greater than 100%. 2x Biafra Banknote 1 Pound 1968 ND P 5 *UNC* Consecutive Serial #s &! 5 Market conditions change over time, and TRE provides indicative quotes to help inform their decision. This index is based on the data of Numista members collections. 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. These Swiss connections support the argument of one or more issues being printed in Switzerland. Keep in mind that MASSOB is a non-violent organization. Is there a claim that you would like us to investigate? 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! International Bank Note Society Journal. (These were also the colours of the Biafran flag three horizontal bars of red, black, and green, with the rising sun in the centre of the black band). Tracy L. Schmidt (editor); 2019. The question of central banking and coinage is something which must be very carefully looked into. It's just ridiculous. WEAVING. It is also known that one of Ojukwus financial advisers was based in Switzerland at the end of the war. 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. WB Budget - All Funds presents the approved World Bank Budget and External Funds (reimbursables and Bank-Executed Trust Funds). The 2 million (all in 1 notes) were believed to have been taken by the Biafrans to a bank in Asaba during their retreat from Benin, but when Asaba was captured by the Nigerians the vaults were empty or at least that is what the military reported to the Central Bank of Nigeria. In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. 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. Did UK police arrest six Nigerians for selling black market fuel? 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. Their use was very popular amongst the Ibos until recent times and they were only demonetised during the 1940s. However they are an intriguing set of notes and will provide a collector with a complete set of a country for an affordable price. 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. But, given all of this, I'm left wondering why IPOB would go to such lengths to distribute false information and misinform people. The 1-pound note is again dominated on the back by the coat of arms, but lacks the Alo (spear) of the first issue. Furthermore, no country in the world accepts the Biafran Pound as a currency because it is not one of the180 currenciesrecognized as legal tender by the United Nations. ces had taken with them some two million pounds in Nigerian currency, taken from bank vaults in Benin. And, it is not just a souvenir: it is legal tender in those places. 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.) It is considered the world's chief reserve currency held by most commercial and central banks globally. REPUBLIC OF BIAFRA Palm tree in centre with sunset behind, all with decorate circles containing words. flying from Lisbon when he dumped the cargo of Biafran notes at sea. Published on 31 October 2019, the article was shared on other news sites and on Facebook. Thank you (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.). Something went wrong. The notes are signed by the Governor and a Director of the Bank of Biafra. End of February Sale Get 15% Off with Promo Code: FEB15. The secession was due to cultural, ethnic, and economic conflicts among the various citizens in Nigeria. It includes data from the World Bank's microdata, finances and energy data platforms, as well as datasets from the open data catalog . What has been spreading on social media is fake information disseminated by IPOB in order to mislead people and massage the egos of Biafra supporters. Product has been added to . The first notes, in denominations of 5/- and 1, were introduced on January 29, 1968. Currency Gallery: Biafra Africa Index World Index Banknotes for Sale Consignment List Banknotes Wanted Note Evaluation Banknote Grading Numismatic Books If you are looking to purchase Biafran banknotes, then please visit our Store instead. 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. To have a better understanding about biafran currency notes, you can visit Mintage World and explore the world of currency notes. Great Historic Banknotes BIAFRA 1 POUND 1968 - 1969 P-5 UNC birthday # 1972. 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. Dubawa has also contacted the claimant several times with no response so far. 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. 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. This page was last updated: 01-Mar 21:20. Palm tree in centre with sunset behind, all with decorate circles containing words. Our new currency notes, along with our new postage stamps, will be issued to the public on January 29, 1968. (Ojukwu, 1969). Thus, only six digits are used and this means that only one million notes were prepared for each prefix, and not the ten million that would be initially supposed. However, the first numeral in the serial number for all notes of the second issue is always zero. Pls let Mazi know about it. 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. 1968-1969, P-5, Banknote, UNC World Currency. 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. Nigeria was for many years a British colony, but in 1960 it became an independent Federation of three regions Northern, Western, and Eastern. CNN values your feedback 1. It's fake! fty thousand. Equipment had to be bought quickly, and (of course) had to be paid for. Top Rated Seller Top Rated Seller. 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. The new currency went public on 28 January 1968, and the Nigerian pound was not accepted as an exchange unit. The new currency notes are of the wide range of 10, 5, 1, 10/and 5/-. (Ojukwu, 1969). Ojukwu, C. Odumegwu (1969) Biafra Selected Speeches and Random Thoughts, Harper & Rowe, New York. So next time you come across one of these notes, dont reject them out of hand collecting bank notes doesnt have to revolve around scarce notes, and this series proves that cheap notes can be just as intriguing as their expensive counterparts. Also with the latest banking policy that everyone must deposit their money before 30.1.2022 it is important to note the above instructions & put them into action $195.00. New currency was introduced. This is a Currency Gallery page and some, most or even all of the banknotes After some months of preparation, the federal government launched their first offensive against Biafra on 6 July 1967, and the Nigerian civil war began. 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. It was generally reported that the notes were being sold at discounts! See the details of the banknotes available for swap. 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. Or browse our previous auctions using our text-based directory. 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