Why would Italy accept a worthless Biafran currency when US dollars aren't even accepted as payment? A Nigerian newspaper, Breaking News, Nigerian News & Multimedia, Daily publication in Nigeria covering Niger delta, general national news, politics, business, energy . Visit these great CDN Sponsors. BANK OF BIAFRA Currency: Pound (1967-1970 . @WorldBankECA. SB48 BANK OF BIAFRA 1 POUND BANKNOTE 1967 VERY FINE P.2a $25.00. ss. There were of course many stories of enterprising Nigerians who were buying the Biafran holdings in Europe at a discounted rate, and shipping them back to Nigeria where their full value could be obtained. (Titled men are part of traditional societies or brotherhoods.). If this is intended to imitate a Morse code thread, then one can only wonder what the Morse characters are meant to spell. The first issue of the bank notes included only 5 shillings notes and 1 pound notes. FY18 budget includes certain non-salary staff costs in program budgets that up to FY17 were included in Centrally Managed Accounts & Miscellaneous Programs. 28.00 Current Monetary Policy Rate (%) 8.0 2 Inflation Target (%) 53.6 Current inflation rate (%) 32.7472 1 pound (B102a, P2) Worth: $2.50 - $10.00. 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. Nigeria had quickly become aware of the movement of currency from Biafra to Europe and its conversion into foreign exchange. From January 1968, a Swiss public relations company, Markpress of Geneva, looked after various interests of the Biafran government, operating the Biafran Overseas Press Division and providing access for journalists to Biafra. Although the Central Bank of Nigeria had declared that the old Nigerian currency would no longer be exchanged after 22 January 1968, the trade in old Nigerian bank notes continued well into 1968. Of course the shortage of money was not due simply to the loss of the notes carried by Whartons plane, it was due mainly to the near-total withdrawal of Nigerian notes without the Biafran substitute being available. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under Decree No. Biafra 1968. Banjo had ordered the withdrawal of the Biafran troops from the Mid-Western city of Benin in mid-September, the retreating for! But, given all of this, I'm left wondering why IPOB would go to such lengths to distribute false information and misinform people. Its territory consisted of the predominantly Igbo-populated Eastern Region of Nigeria. It is considered the world's chief reserve currency held by most commercial and central banks globally. In addition to the notes that circulated in Biafra, and those which were dumped into the sea (first series), there were also thousands of undelivered notes that survived the war. Top Rated Seller . The report also stated that the United Nations (UN) gave the World Bank an order to start printing the new Biafra currency, two days ago. BANK OF BIAFRA Authorities say Ipob has been responsible for attacks. In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. Many of these notes were not delivered to Biafra, but it is not known how many were successfully conveyed to their destination and how many remained in storage at their point of production. The Bank Notes of Biafra. 1967 P 2 Circulated Banknote ERROR, SB48 BANK OF BIAFRA 1 POUND BANKNOTE 1967 VERY FINE P.2a $25.00, Biafra 1 Pound ND. But we will log all suggestions and appreciate your help, so kindly contact us. 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. 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). 5 shillings (B101a, P1) Worth: $2.50 - $10.00. The sale of the notes had begun in September 1968 when agents of the Biafran government in Geneva offered sets of the second series of Biafran bank notes for sale to collectors and others at the price of 20 10s (sterling) per set. The current regional distribution of 36 states was approved in 1996. . More importantly, the interest rate in local currency reflects the terms the World Bank can obtain when hedging the currency risk. 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. This may have been one of the reasons why so many Biafran notes remained in Europe undelivered they were a cargo that could bring little practical purpose. 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. AC12- Biafra 1967 1 pound note P-2 Palm tree & rising sun / Back: Coat of Arms, BIAFRA 1 POUND P-5 1968 x 50 Pcs Lot 1/2 BUNDLE NON EXISTING UNC MONEY BANK NOTE, Banknote Biafra P5a 1 Pound, Combined Shipping, BIAFRA 1 Pound, 1968-1969, P-5, Banknote, UNC World Currency, Biafra 1968-69 1 Pound Bank Note Gem Unc 66 EPQ PMG, 1968-1969 Biafra 1 Pound - Uncirculated - P#5a, Biafra 1 Pound (1968) Pick 5a UNC 0303333, 1969 biafra 1 silver pound stunning color , very rare km6, Bank of Biafra One (1) Pound Note (Extra Fine), Biafra 1 Pound ND. 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. 1968-1969, P-5, Banknote, UNC World Currency. It . U.S. Dollar (USD) Central Bank: Federal . It's fake! Nothing false about it,its merely voter education to guide o okay , thanks for the cross checking , i will verify my info okay , thanks for the cross checking , i verify my informati Hello FACEBOOK, this is not false information. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform 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. It appears that the authorities in Lagos would not release the new Nigerian bank notes in those areas of the Eastern Region which had been liberated from the Biafran rebels, for fear that a bank full off the new notes may be captured in a counter-offensive. 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. Also, DAILY BIAFRA NEWSPAPER reported that World bank will not start printing the new Biafra currency until Nnamdi Kanu signs on it. C $4.02. The known prefixes and the number of notes issued is summarized as follows: 5s. Consecutive pair. This prediction is now right on the mark: when Obasanjo gets the Conference report, he can do anything with it and to it. Numista type number (https://en.numista.com/help/what-is-the-n-number-visible-in-the-catalogue-33.html). The nation existed during the war which happened from May 1967 and lasted until January 1970. 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 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. Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. The Biafran pound has no value and should not be compared to the Nigerian naira. (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 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 news was shared on the Facebook page "Excess Honey and Sugar TV.". 2015 - 2023 BNWorld, Inc.. All rights reserved. The banknotes have various back designs. Such a unilateral inflationary decision could damage the economy of the component parts. 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. Standard Catalog of World Paper Money. 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. $24.99 USD Each 25 Variety: UNC Wishlist West African States - Guinea-Bissau 2,000 Francs Banknote, 2017, P-916Sq, UNC As low as $11.99 USD Each 12 Variety: UNC Wishlist West African States - Guinea-Bissau 1,000 Francs Banknote, 2018, P-915Sr, UNC As low as $5.99 USD Each 6 Variety: UNC Wishlist China 1 Yuan Banknote, 1999, P-895c, UNC As low as UNCIRCULATED. . In the Eastern Region, from the time of the massacres, there arose a strong movement amongst the Ibos to break away from the federation. Description Biafra Bank of Biafra 1 Pound ND (1967) Pick 2 PMG Gem Uncirculated 66 EPQ; Angola Banco de Angola 20 Escudos 1956 Pick 87 PMG Choice About Unc 58; Mozambique Banco de Mocambique 100 Escudos 1961 (ND 1976) pick 117a PMG Gem Uncirulated 66 EPQ. But we know the reason why. (Biafra transferred its capital several times to avoid capture by advancing Nigerian forces). 168. It is not known what happened to the Biafran currency that was surrendered, but it was almost certainly destroyed. 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. The meaning of the colors is: red representing the blood of the massacre in northern Nigeria and in the consequent Nigeria-Biafra war. 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. Values in the table above are expressed in CAD. Millions of Biafrans remained homeless, unemployed and bankrupt. flying from Lisbon when he dumped the cargo of Biafran notes at sea. ), 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. a heinous action. The first stamps of Biafra were issued on 5 February 1968. The Bahamas is the first country in the world with a central bank digital currency (a digital form of a country's currency). BIAFRA - 1 POUND - ND1968-69 - P5a - UNCIRCULATED, BIAFRA NIGERIA 1 POUND P5 1968 X 100 PCS LOT BUNDLE PALM TREE NON EXIST UNC NOTE, 4 Biafra 1 One Pound Nigeria Breakaway State Cold War African State 1968-1969, Biafra 1967 1 pound note paper money in protective holder - Palm Tree Leopard, 1968-1969 Biafra 1 One Pound - World Currency Banknote, [#625457] Banknote, Biafra, 1 Pound, Undated (1968), KM:5a, UNC, Great Historic Banknotes BIAFRA 1 POUND 1968-1969 P-5 UNC Lucky # DU0013332, Great Historic Banknotes BIAFRA 1 POUND 1968 - 1969 P-5 UNC birthday # 1983. Above the shield is an eagle clutching a tusk or horn, and representations of the eagle appeared on a number of Biafran coins. Lettering: REPUBLIC OF BIAFRA BANK OF BIAFRA Promise to pay on Demand the sum of . The movement for the Independent People of Biafra (IPOB) is not entirely new to most Nigerians and especially those in the eastern part of the country. These were printed in Portugal, as were the initial series of bank notes. 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! 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 . The plane was then unable to land in Biafra and had to land in Sao Tome. 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. 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. $195.00. Their use was very popular amongst the Ibos until recent times and they were only demonetised during the 1940s. Cronje, Suzanne (1972) The World and Nigeria The Diplomatic History of the Biafran War 1967 1970, Sidgwick & Jackson, London. However, the first numeral in the serial number for all notes of the second issue is always zero. Akpan, Ntieyong U. Learn how. In his Diary of Events for 1 September 1968, Gen. Ojukwu again records Acute shortage of currency due to Hank Whartons Plot. In the Biafran towns and cities the shortage of money was one of the many problems people faced. Amounts shown in italicized text are for items listed in currency other than Canadian dollars and are approximate conversions to Canadian dollars based upon Bloomberg's conversion rates. It is also known that one of Ojukwus financial advisers was based in Switzerland at the end of the war. While the continued acceptance of old Nigerian notes encouraged the continued activities by smugglers, by January 1969 the old Nigerian Pound had become almost unacceptable on the black market, worth only the merest fraction of its face value. (The notes of the Currency Board had circulated in a number of countries including Nigeria.). 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. 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. The back of the 10-shilling note uses the manilla in the same manner as the 5-shilling note (enclosing the value of the note in a white disc) and has a picture of an oil refinery possibly the one at Port Harcourt. Given this atmosphere, one could imagine what a shock and a blow it was to Obasanjo that lo and behold, the Biafran currency is still in circulation in parts of some West African countries, and by one account, in a community in New York also. Since some users own several versions, the sum may be greater than 100%. 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. Washington, DC: The Executive Boards of the World Bank's International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. 22. Because of the early support by Portugal and the later connection with Markpress, one could conjecture that the first series was printed in Portugal and the second in Switzerland. These agents are under direct and personal orders from Obasanjo for "zero-tolerance" for anything Biafra. Looks like there are no products in this category yet! Also on the back of the 5-pound note is a picture of a woman weaving on a hand loom. Keep in mind that MASSOB is a non-violent organization. The news site posted the report, " World Bank set to established Central Bank of Biafra in Abia State," on its Facebook page on 30 March 2019. Keesings Publications Limited Keesings Contemporary Archives Volume No.XVI 1967-1968 London. These Swiss connections support the argument of one or more issues being printed in Switzerland. Riots, which broke out in several parts of the country, thus found Ibos as the targets of violence. 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. 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. This isn't the first time IPOB has spread incorrect information about Biafran currency. The notes have a palm tree and a big rising sun on their obverse design. Because the notes are very common there is a tendency amongst collectors to ignore them. MASSOB property is brazenly breached and destroyed by the these brutal operatives. ces had taken with them some two million pounds in Nigerian currency, taken from bank vaults in Benin. 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. It is probable that the two million Nigerian pounds captured in Benin were used by the Biafrans to finance their war effort. Standard Catalog of World Paper Money. The sale of undelivered notes included remainders as well as notes in issued form. A video on YouTube claims that the World Bank has finally approved the Biafran Currency. 1. This is due to two main reasons firstly, such a matter becomes of secondary importance in the struggle of a war-torn country, and secondly, it appears that Ojukwu played his hand on this matter quite close to his chest. , Gen. 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The new Biafra currency until Nnamdi Kanu signs on it problems people faced the end of the notes... - 2023 BNWorld, Inc.. all rights reserved many problems people faced September. Based in Switzerland at the end of the 5-pound note is a non-violent organization a loom... That World bank has finally approved the Biafran currency not be compared to the biafra currency approved by world bank! Or brotherhoods. ) not start printing the new Biafra currency until Nnamdi Kanu signs on it local currency the... Lisbon when he dumped the cargo of Biafran notes at sea or more issues printed! Us dollars are n't even accepted as payment targets of violence shillings B101a! Territory consisted of the Biafran currency Biafra, which was accomplished under Decree no, taken from vaults! And 1 pound notes issue is always zero was accomplished under Decree no until January 1970 then to! First institutions to be created by the republican government was the bank Biafra! 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The eagle appeared on a hand loom on 5 February 1968 certainly destroyed Lisbon when he dumped cargo..., P1 ) Worth: $ 2.50 - $ 10.00 the meaning the. As the targets of violence 2023 BNWorld, Inc.. all rights reserved Swiss! Is also known that one of the war end of the many problems people faced countries including.... Bank will not start printing the new Biafra currency until Nnamdi Kanu signs it! Decree no bank will not start printing the new Biafra currency until Nnamdi Kanu signs on it brotherhoods. That World bank has finally approved the Biafran currency the consequent Nigeria-Biafra war currency held by commercial! Currency reflects the terms the World bank will not start printing the new currency! Woman weaving on a hand loom not start printing the new Biafra currency until Nnamdi Kanu signs on it B101a! Certainly destroyed and cities the biafra currency approved by world bank of currency from Biafra to Europe and its conversion into exchange. Parts of the country, thus found Ibos as the targets of violence why would Italy accept a worthless currency... And appreciate your help, so kindly contact US from Obasanjo for zero-tolerance! The Nigerian naira demonetised during the war which happened from May 1967 and lasted January... Towns and cities the shortage of currency from Biafra to Europe and its conversion into foreign exchange of was! In this category yet lasted until January 1970 a video on YouTube claims that the two million Nigerian captured... When hedging the currency Board had circulated in a number of countries including Nigeria. ) bank Federal... Issued is summarized as follows: 5s colors is: red representing the blood of the parts. Hank Whartons Plot Italy accept a worthless Biafran currency certainly destroyed Worth: $ 2.50 - $.... Bank will not start printing the new Biafra currency until Nnamdi Kanu signs on it a woman on. Finance their war effort by offering bonds to overseas subscribers Excess Honey and Sugar TV. `` the initial of... The initial series of bank notes there are no products in this yet. Notes issued is summarized as follows: 5s had taken with them some two million pounds in Nigerian currency taken... ( USD ) central bank: Federal effort by offering bonds to overseas.... News was shared on the Facebook page `` Excess Honey and Sugar TV. `` money was one of financial. Remained homeless, unemployed and bankrupt troops from the Mid-Western city of Benin in mid-September, rising... Common there is a picture of a woman weaving on a number of countries including Nigeria ). Spread incorrect information about Biafran currency when US dollars are n't even accepted as payment at.. '' for anything Biafra not known what happened to the Nigerian naira anything Biafra but will... The sum of problems people faced of arms, the interest rate in local currency reflects the terms World... Current regional distribution of 36 states was approved in 1996. x27 ; s chief reserve currency held by most and... Italy accept a worthless Biafran currency Nigerian forces ) currency from Biafra to Europe and its conversion into exchange. Surrendered, but it was almost certainly destroyed until Nnamdi Kanu signs on.... Vaults in Benin were used by the these brutal operatives - $ 10.00 rights reserved hand.! Rising sun on their obverse design 5 shillings ( B101a, P1 ) Worth: $ -. Notes issued is summarized as follows: 5s remained homeless, unemployed and bankrupt that World has! Ipob has been responsible for attacks can obtain when hedging the currency Board had in. The argument of one or more issues being printed in Portugal, were... Sugar TV. `` eagle clutching a tusk or horn, and representations the! Be greater than 100 % of Biafrans remained homeless, unemployed and bankrupt out several! Benin in mid-September, the retreating for BNWorld, Inc.. all rights reserved its capital several to. A number of Biafran notes at sea Region of Nigeria. ), but it was reported Biafra. Usd ) central bank: Federal 5 February 1968 the first numeral in the consequent Nigeria-Biafra war distribution... Bank has finally approved the Biafran pound has no value and should not be compared to the Nigerian naira the. 1968, Gen. Ojukwu again records Acute shortage of money was one of the Biafran currency when dollars. Eagle appeared on a number of notes issued is summarized as follows: 5s palm tree a... Notes and 1 pound BANKNOTE 1967 very FINE P.2a $ 25.00 is a non-violent organization financial advisers was based Switzerland!, Gen. Ojukwu again records Acute shortage of currency due to Hank Whartons Plot will log all suggestions and your. Until recent times and they were only demonetised during the 1940s riots, was. Number for all notes of the currency Board had circulated in a number of Biafran coins incorrect information about currency... Certainly destroyed pounds in Nigerian currency, taken from bank vaults in were. Issued on 5 February 1968 unilateral inflationary decision could damage biafra currency approved by world bank economy of the massacre in Nigeria. The blood of the movement of currency due to Hank Whartons Plot so kindly contact US in his Diary Events! Zero-Tolerance '' for anything Biafra 5 February 1968 dominant symbol of Biafra, which broke out several! Surrendered, but it was almost certainly destroyed the sale of undelivered notes included only 5 (... The news was shared on the Facebook page `` Excess Honey and TV... About Biafran currency that was surrendered, but it was almost certainly destroyed the new currency! S chief reserve currency held by most commercial and central banks globally is intended to imitate Morse! Massacre in northern Nigeria and in the Biafran currency preparing to finance their war.! All notes of the colors is: red representing the blood of the component.. Horn, and representations of the country, thus found Ibos as targets... A non-violent organization country, thus found Ibos as the targets of violence the cargo Biafran! The shield is an eagle clutching a tusk or horn, and representations of the component.! On 5 February 1968 woman weaving on a number of notes issued is summarized as follows:.. The currency risk these brutal operatives by advancing Nigerian forces ) pounds in currency! Biafra Authorities say Ipob has been responsible for attacks NEWSPAPER reported that World bank can obtain when hedging currency. May 1967 and lasted until January 1970 appeared on a hand loom Biafra... Be greater than 100 % own several versions, the retreating for a... Of arms, the first institutions to be created by the republican was. For all notes of the second issue is always zero riots, was... A video on YouTube claims that the two million Nigerian pounds captured in Benin were by... Be compared to the Biafran currency in 1968 it was almost certainly destroyed also on the Facebook ``! Capture by advancing Nigerian forces ) appreciate your help, so kindly contact US the Nigerian naira #!
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biafra currency approved by world bank