These were printed in Portugal, as were the initial series of bank notes. The Bank of Biafra Decree also stated that all property held in the republic by the Central Bank of Nigeria was to be transferred to the Bank of Biafra. 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 black is for mourning them and in remembrance. 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. No fatality recorded from Bo Stadium incident, No, Atiku did not get 25% in all 24 states, President Muhammadu Buhari did not approve President Obasanjos request for election cancellation, Peter Obi won four area councils NOT six in Abuja, False! fty thousand. Thank you for subscribing to the newsletter! When a foreign journalist, Michael Mok of Life magazine, asked a nun working with the Biafrans whether he could make a cash donation to help the starving children, he was told that cash would be useless, as there was nothing left to buy in Biafra. 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! Copyright 1995-2023 eBay Inc. All Rights Reserved. The notes are signed by the Governor and a Director of the Bank of Biafra. 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. Two days earlier an aeroplane carrying 7 million of Nigerian currency was seized at Lom in Togo. Thursday, 23rd . 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. Moreover, he was commissioned to take part in a plan to assassinate Ojukwu and topple the Biafran regime a plan that was later uncovered and which cost Banjo his life. The Bahamas is the first country in the world with a central bank digital currency (a digital form of a country's currency). Published on 07 November 2019. By that same decree, Nigeria currency notes will cease to be legal tender in Biafra. Palm tree in centre with sunset behind, all with decorate circles containing words. With such an interesting attempt at micro printing it would be pleasing to know where the notes were printed, but the printer of each issue is a mystery. As the situation in Biafra deteriorated it would appear ! Promise to pay on Demand the sum of No matter in what form the notes are found (the remainders are now getting scarce), the notes of Biafra offer an interesting piece of history a piece of African history, and a piece of bank note history. $195.00. @WorldBankECA. 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. 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. 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. More products for this category are coming soon! C $12.28. 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. The present difficulties started when early last year [1968] Nigeria, on the advice of Whitehall, suddenly decided on its wicked and diabolical plan to dispossess our people of their wealth by means of the notorious currency switch. So, on 30 May 1967, the Eastern Region was declared an independent republic by Lieutenant-Colonel Ojukwu. a heinous action. The Burkina Faso COVID-19 Preparedness and Response Project will strengthen the public health systems' capacity to prevent, detect, and respond to the pandemic. (From other reports in the press at the time, this appeared to be the general rate available for the notes. However, at the end of the conflict it was estimated that between 115 and 140 million in Biafran currency was in circulation, indicating that a large proportion of the currency was delivered into circulation. 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. BIAFRAN CURRENCY HAS BEEN APPROVED FROM WORLD BANK, BIAFRA IS COMING Tracy L. Schmidt (editor); 2019. 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. Great Historic Banknotes BIAFRA 1 POUND 1968 - 1969 P-5 UNC birthday # 1972. 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. 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. Such a unilateral inflationary decision could damage the economy of the component parts. PEACE - UNITY - FREEDOM 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. The spear (which appears to the left of the 1-pounds back) is called an Alo amongst the Ibo people. The Republic of Biafra. (After independence, a fourth region the Mid-west was created.) 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! 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. 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. 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 National Political Reform Conference arranged, funded (illegally) and teleguided by Obasanjo himself, is about to wind up, pretending that it has been successful, although the fragmentation of interests along ethnic and regional lines is the most visible outcome--not surprisingly. The nation existed during the war which happened from May 1967 and lasted until January 1970. Calls to replace it have failed because it is the world's most widely traded currency. 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. It appeared on their flag, their coins and bank notes, on military insignia, and it gave rise to the title of their national anthem, Land of the Rising Sun. 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. 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. The currency of Biafra had been the Nigerian pound, until the Bank of Biafra started printing out its own notes, the Biafran pound. The Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) bring together central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development . GA to GW(except GI & GO)19 million, 1BA to BZ(except BI & BO)24 million, CA to CZ(except CI & CO)24 million, DA to DX(except DI & DO)22 million, 5WA to WF6 million, 10ZA to ZC3 million. Frequencies show the percentage of Numista users who own each year or variety among all the users who own this banknote. ), 1967 October 25 (25g); May 29 (1e); June 9 (7d), 1968 January 3 (5d); January 23 (1e); January 26 (4g); January 30 (4h); April 17 (10f); June 20 (4h). 5 - 5 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. When Nigeria announced the introduction of their new note issue was to be on 3 January 1968, the Biafrans were still collecting Nigerian 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. BANK OF BIAFRA 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. 1968-1969, P-5, Banknote, UNC World Currency. Because the old Nigerian notes continued to be accepted in certain areas, the value of the old Nigerian currency was not entirely worthle! Cronje, Suzanne (1972) The World and Nigeria The Diplomatic History of the Biafran War 1967 1970, Sidgwick & Jackson, London. Aware not only of the shortage of currency, but also of the poor quality of the notes and lack of denominations, preparations were made for the introduction of a new series of notes. Lettering: 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.. Banjo had ordered the withdrawal of the Biafran troops from the Mid-Western city of Benin in mid-September, the retreating for! The blockades imposed on Biafra by Nigeria and her allies started to take their toll, and it would seem that the loss of the of bank notes through Hank Whartons treachery was one of the more telling blows. ces had taken with them some two million pounds in Nigerian currency, taken from bank vaults in Benin. On 22 January, seven suitcases filled with Nigerian currency worth 252,000 were discovered at London Airport after one of the suitcases split open. Pick Publishing Corporation (1971) Picks Currency Year Book 1970, New York. It turned out, however, to be false information. 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. International Bank Note Society Journal. Another set of banknotes was released in February 1969 which also features a palm tree but with a small rising sun on the obverse. Also on the back of the 5-pound note is a picture of a woman weaving on a hand loom. It ranges from 0 to 100, 0 meaning a very common coin or banknote and 100 meaning a rare coin or banknote among Numista members. 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. 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. On the left column we have posted some of the relevant newspaper articles. The People's Bank of China is aiming for widespread domestic use of the e-CNY, or digital yuan, in 2022. It goes to prove the point: Biafra is really here to stay. 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. 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. Market conditions change over time, and TRE provides indicative quotes to help inform their decision. It includes data from the World Bank's microdata, finances and energy data platforms, as well as datasets from the open data catalog . There were many more notes prepared for the second issue of notes with the serial number prefixes being distinct for each denomination. 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