Keep in mind that MASSOB is a non-violent organization. The World Bank charges a 0.06 percent per annum transaction fee. 8 The government asked bi- and multilateral donors to provide foreign experts and assistance to address the economic situation.9 In the cocoa sector, the Obiang adminstration invited former plantation owners to resume cocoa production and negotiated a cocoa rehabilitation project with the World Bank. 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. However, some other comments appear to support the claim. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news. C $4.02. The men can be heard speaking in Igbo language and chanting "All hail Biafra" in the video, which has received over 1000 shares on Facebook. 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 the old map many natural Biafran geographies were excluded such as Biafra lands on the west bank of the Niger. her currency by more than 80 per cent. 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. In 1944, the U.S. dollar became the global or world currency. Thursday, 23rd . 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. (This occurrence being due to insufficient Biafran notes being delivered to replace the Nigerian currency, which had been extracted from circulation.). The notes have a palm tree and a big rising sun on their obverse design. See Details. (Biafra transferred its capital several times to avoid capture by advancing Nigerian forces). The pound (symbol ) was the currency of the breakaway Republic of Biafra between 1968 and 1970.. Falana gives CBN seven-day ultimatum, demands details of new naira notes distribution Bayelsa governor urges calm over cash crunch CSOs asks Buhari to uphold rule of law El-Rufai has advanced on his treasonable trajectory, says Osuntokun Ahead of tomorrow's Supreme Court sitting on the suit filed by governors against the Central [] 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. We cannot investigate every claim sent to us. 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. ss. 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. Portugal was an early supporter of Biafra, and by October 1967 Biafra had established It is probable that the two million Nigerian pounds captured in Benin were used by the Biafrans to finance their war effort. While not known for certain how many notes were produced for circulation in Biafra, a reasonable estimate can be made by extrapolating the number of notes prepared for each known serial number prefix. 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. This index is based on the data of Numista members collections. The second coup was successful, and resulted in northern officers taking control of the country and forming a new government led by General Gowon. Auction 109. The notes of the second series are printed on non-fluorescing paper embedded with red and blue fibres. Because the notes are very common there is a tendency amongst collectors to ignore them. The new family of notes introduced the 10 shillings, 5 pounds, and 10 pounds denominations with an oil refinery, a female weaver, and a male carver on their respective reverse designs. Pick Publishing Corporation (1970) Picks Currency Year Book 1969, New York. (1972) The Struggle for Secession, 1966-1970, Frank Cass, London. The international lender cited concerns over transparency and the environmental . However, matters became critical in January 1966 when a number of junior army officers attempted a coup. (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.). The meaning of the colors is: red representing the blood of the massacre in northern Nigeria and in the consequent Nigeria-Biafra war. The Governor of the Bank seems to have been Sylvester U. Uqoh (as deciphered from the signature on the Biafran bank notes), but the identity of any directors remains a mystery. 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. However in the case of the individual no more than 10 of the 30 could be made up with Biafran notes and in the case of the commercial enterprises the limit was 100. UNCIRCULATED. 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. Visit these great CDN Sponsors. Since some users own several versions, the sum may be greater than 100%. FIVE POUNDS - 5 This edition has been updated. To all Nigerians, Please ignore the news that the Biafran Pound has been approved in Italy. Above the shield is an eagle clutching a tusk or horn, and representations of the eagle appeared on a number of Biafran coins. Money was also being raised from outside the republic. Biafra. Lettering: REPUBLIC OF BIAFRA BANK OF BIAFRA Promise to pay on Demand the sum of . However Enugu was one of the first casualties of the war, and the administrative centre of Biafra was moved to several locations (including Aba, Umuahia and Orlu) during the course of the war. The war continued for two and a half years, with Biafra finally capitulating on 15 January 1970. -catalogue-33.html) References: P# 6 . . BanknoteBuys.com; Compass Collectables . Dubawa has also contacted the claimant several times with no response so far. "Chima Nwagu, the founder and Chief Editor of Biafra . Or browse our previous auctions using our text-based directory. Hank Wharton was an American transport operator who had come to an arrangement with the Biafrans to fly arms twice weekly from Lisbon (Portugal) to 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 This action and the preceding blockade were the necessary catalysts that those in the east were looking for to show their hand. 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. Beresiner and Narbeth (in The Story of Paper Money) claim that the notes were printed in Portugal and Switzerland, and this seems to be a reasonable proposition. 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.) 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. of over 40% their face value. 10 . Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. BIAFRA 1 POUND P-2 1967 10 Pcs Lot RISING SUN Bundle CURRENCY NIGERIA BANK NOTE. The Bank Notes of Biafra. The world bank has not approved the Biafran currency, and this claim remains an empty statement with no link to reality. 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. These undelivered notes were sold into the collector market once they became unusable, and were sold in such numbers that the market became flooded. 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 Swiss franc, the Canadian dollar, the Australian and New Zealand dollars, and the South African rand round out the list of top tradable currencies. The first notes, in denominations of 5/- and 1, were introduced on January 29, 1968. SB48 BANK OF BIAFRA 1 POUND BANKNOTE 1967 VERY FINE P.2a $25.00. In an effort to take firm control of the country, General Ironsi was appointed by the Nigerian cabinet to head a federal military government. Ivory Coast. Unissued copies of ten year bonds for the value of one thousand pounds, dated 15 June 1969 and offered through the London agents of the Republic of Biafra, are extant and show that this method of financing was attempted although it is not known how many bonds were actually issued. Its territory consisted of the predominantly Igbo-populated Eastern Region of Nigeria. After some months of preparation, the federal government launched their first offensive against Biafra on 6 July 1967, and the Nigerian civil war began. 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. a heinous action. (Most types of paper have a high timber pulp content, and are treated with agents which brighten the paper and produce a surface which fluoresces under ultra-violet light. The World Igbo Congress (WIC) is calling on the Nigerian authorities to ensure the safety of the self-acclaimed leader of the proscribed Indigenous Peoples of Biafra (IPOB) Nnamdi Kanu, saying the . 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. Latest World news news, comment and analysis from the Guardian, the world's leading liberal voice Paragraph 8 of the decree states: Currency notes and coins of the Federal Republic of Nigeria shall remain legal tender in the Republic of Biafra until such further day as the Military Governor may specify., The Bank shall maintain existing parity of the Nigerian pound.. 66 PPQ. 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. Such a unilateral inflationary decision could damage the economy of the component parts. Biafra 1968. It is not known what happened to the Biafran currency that was surrendered, but it was almost certainly destroyed. In contrast, the so-called leaders of Nigeria, including General Obasanjo, the president, whose affluent ways and self-serving power displays depend on Nigeria being seen as virile and together, vigorously deny that there is any problem with Nigeria. 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. However, most commentators on the war discounted these claims as Nigerian propaganda, seeking to discredit both Ojukwu and the French. The primary sources presented here are almost exclusively items that were published or stated during the 1966-1970 period. World. Nigeria was for many years a British colony, but in 1960 it became an independent Federation of three regions Northern, Western, and Eastern. 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. We had to do something quickly to save the near-disastrous situation. It was in this statement that Dr. Okigbo said that the Biafrans had collected 53 million in the three weeks since Nigerias announcement that the notes would no longer be legal tender after 22 January. Palm tree in centre with sunset behind, all with decorate circles containing words. 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. 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