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. However they are an intriguing set of notes and will provide a collector with a complete set of a ‘country’ for an affordable price. Example: A search for "1 franc" is more precise than 1 franc. 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. 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. 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. With these two decrees the financial framework of the Bank of Biafra was established, but there was still a more important problem to be faced – that of financing the war. 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. of over 40% their face value. The DXY dollar index posted a fresh 32-month low at 90.84. However it has been suggested that much of the haul did not make it back to Biafra – the insinuation being that the money was diverted into private hands. These undelivered notes were sold into the collector market once they became unusable, and were sold in such numbers that the market became flooded. 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. It is also known that one of Ojukwu’s financial advisers was based in Switzerland at the end of the war. ), 1968 – January 16 (17:7); May 2 (3:7); September 8 (Section 2, 40:5). The currency of the breakaway Republic of Biafra between 1968 and 1970 was Biafran pound. There is no ties to human blood. Anonymous75012 | 15/03 2017 13:39 1 baifran pound Positive: 50 %. 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. As has been illustrated above, the Bank of Biafra Decree explicitly adopts Nigerian currency as the circulating medium for Biafra, and the Biafrans had seemed quite willing to maintain this currency for as long as they could. The cases were due to be loaded on a flight to Accra in Ghana. In addition, the depiction of a single palm tree had been the dominant feature on the bank notes of the West African Currency Board from 1916 to 1951, and gave a visual reminder of the notes of that era. In his ‘Diary of Events’ for 1 September 1968, Gen. Ojukwu again records – ‘Acute shortage of currency due to Hank Wharton’s Plot.’ In the Biafran towns and cities the shortage of money was one of the many problems people faced. I took the money to some of my friends. 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. 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. Such a unilateral inflationary decision could damage the economy of the component parts. However, the first numeral in the serial number for all notes of the second issue is always zero. Find biafra and biafra 10 from a vast selection of Paper Money: World. 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. At first it appears to be a ‘Morse code’ security thread, but the marks are in fact printed on the front of the notes. 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. Essentially, most of the institutions required for running the new republic existed as part of the Nigerian government’s administration for the Eastern region. 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. Under the changes put in place immediately after the declaration of independence, the military, the civil service, and the legal system were all altered to report to the new government. ces had taken with them some two million pounds in Nigerian currency, taken from bank vaults in Benin. From April 1967 payments to federal-owned concerns (and employees) were stopped, import licenses to the region were with-held, and all foreign exchange standing in credit of the regional government was seized. With the short time at our disposal, we could only produce notes in denominations of £1 and 5/-; we could not produce coins. (From other reports in the press at the time, this appeared to be the general rate available for the notes. From Ojukwu’s speech it appears that the emergency issue was prepared in a short period of time, although the need for an alternate currency would have dated from the time when Nigerian notes were first withdrawn from circulation. 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. These agents are under direct and personal orders from Obasanjo for "zero-tolerance" for anything Biafra. 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. 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. To the left! ), It is interesting that such an attempt has been made to produce this quasi-security device, as another very simple security device is absent – that of non-fluorescing paper. 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. Over $ 350.00 - apply Price filter them some two million pounds in currency! So final ), Wharton’s planes did not arrive when needed and different.! 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