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. See the details of the banknotes available for swap. Thank you for subscribing to the newsletter! WASHINGTON, March 17, 2020 The World Bank and IFC's Boards of Directors approved today an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. However, some other comments appear to support the claim. This edition has been updated. 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 [] Palm tree in centre with sunset behind, all with decorate circles containing words. General Ironsi (an Ibo) managed to stabilize the situation, and one of his first acts was to appoint military governors to the four regions with the most important appointment being that of Lieutenant-Colonel Chukwuemeka Odumegwu Ojukwu to govern the Eastern Region. C $12.28. Several years later, in 1963, Nigeria became a republic, but it was being plagued by power struggles; and, like so many modern African nations, these power struggles centred around ethnic groups. Many impatient people surrendered their Biafran notes to speculators who were purchasing them at fifty Biafran pounds to one Nigerian pound. It was only been used by the igbo's and people who exchanged it at the rate you claimed were boarder town fools who were only hoarding it believing that one day, Biafra will exist. The Latest news in Nigeria and world news. Akpan, Ntieyong U. 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. It goes to prove the point: Biafra is really here to stay. Bank of Ghana - Central Bank Bank of Ghana We formulate and implement monetary policy to achieve price stability, contribute to the promotion and maintenance of financial stability, and ensure a sound payment system. Yes my grand parents and my Ikwuano people called it Ojomma and not Ejemma. her currency by more than 80 per cent. As the situation in Biafra deteriorated it would appear ! Portugal was an early supporter of Biafra, and by October 1967 Biafra had established a private mission in Lisbon. Once the new notes were introduced, the federal government could stop redeeming notes of their current issue, and by that process make the Biafran holdings worthless consequently, the Biafran holdings were forced to be sold at a discount. 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. Refine Results . (1972) The Struggle for Secession, 1966-1970, Frank Cass, London. Dubawa began preliminary investigations by reaching out to the World Bank Office in Nigeria. Einzig, Paul (1949) Primitive Money, Eyre & Spottiswoode, London. Forsyth, Frederick (1977) The Making of an African Legend: The Biafra Story, Penguin Books Ltd, Harmondsworth. 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. Don't fall for cheap lies. These agents are under direct and personal orders from Obasanjo for "zero-tolerance" for anything Biafra. 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. fty thousand. The secession was due to cultural, ethnic, and economic conflicts among the various citizens in Nigeria. Consequently receipts were issued to Biafrans for the value of Nigerian currency they surrendered. 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. 5 - FIVE POUNDS - 5 -catalogue-33.html) References: P# 6 . Lot. 168. On 22 January, seven suitcases filled with Nigerian currency worth 252,000 were discovered at London Airport after one of the suitcases split open. (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. 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. Another external source of revenue that was rumoured to have come to the Biafrans, was an advance of six million pounds against the promise of mineral rights. Palm tree in centre with sunset behind, all with decorate circles containing words. World. The common features are the rising sun (now a much smaller representation), the palm tree, the names of the Republic and the Bank, a white disc to the right of the note, and patterns imitating engine work surrounding the note. 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. The information reaching our desk this afternoon, from Biafran blogger Eze Ndukwe . Because the notes are very common there is a tendency amongst collectors to ignore them. 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. See Details. Biafra was established on 30 May 1967 by Igbo military officer and Eastern Region governor C. Odumegwu Ojukwu under his presidency . 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. These Swiss connections support the argument of one or more issues being printed in Switzerland. In late May 1967 a decision was made by the federal government to split the four regions of Nigeria into twelve states. Signatures: Sylvester U. Ugoh (Governor) five shillings. In the Eastern Region, from the time of the massacres, there arose a strong movement amongst the Ibos to break away from the federation. And, it is not just a souvenir: it is legal tender in those places. Under this decree the bank was to be administered by a board consisting of a Governor and not less than four Directors, who were to be appointed by the Military Governor. New currency was introduced. There is the possibility that the Biafran currency was actually introduced earlier than stated, for in an interview at Umuahia on 18 January 1968, Gen. Ojukwu made the following comment: I understand that some women in the villages said that if this money [during the recall of Nigerian currency for Biafran currency] was wanted for the war they did not mind; the government should take it all. (Ojukwu, 1969). Please sign in or create an account to manage your collection. The cases were due to be loaded on a flight to Accra in Ghana. The prefixes commenced with a letter that was assigned to the denomination, followed by a second letter that cycled through the alphabet from A to Z; although the letters I and O were not used due to their similarity with the numerals one and zero. World Banknotes. 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. However, most commentators on the war discounted these claims as Nigerian propaganda, seeking to discredit both Ojukwu and the French. It's just ridiculous. The Burkina Faso COVID-19 Preparedness and Response Project will strengthen the public health systems' capacity to prevent, detect, and respond to the pandemic. 66 PPQ. MASSOB property is brazenly breached and destroyed by the these brutal operatives. GOVERNOR - DIRECTOR The currency of the breakaway Republic of Biafra between 1968 and 1970 was Biafran pound. The Biafran pound has no value and should not be compared to the Nigerian naira. 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. 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. 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. CNN values your feedback 1. Auction 109. "They invited him this morning (Friday, July 18, 2020) to come and sign . "Chima Nwagu, the founder and Chief Editor of Biafra . 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.. 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. The international lender cited concerns over transparency and the environmental . 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. flying from Lisbon when he dumped the cargo of Biafran notes at sea. 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. Our new currency notes, along with our new postage stamps, will be issued to the public on January 29, 1968. (Ojukwu, 1969). 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. Modern issues 1961-present (25 th . Biafra one pound Pick2, 1967 issue, prefix A/C, scarce high grade, almost UNC. 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. These were printed in Portugal, as were the initial series of bank notes. (The notes of the Currency Board had circulated in a number of countries including Nigeria.). The notes have a palm tree and a big rising sun on their obverse design. Tracy L. Schmidt (editor); 2019. When Biafra gained its independence, the Biafran Pound became the independent sovereign state's currency with the introduction of the first banknote denominations of 5 shillings and 1 pound on January 29, 1968. This issue consisted of three values honoring Biafran . Bank of Biafra. The first Biafran banknote was introduced in 1968 which replaced the Nigerian currency. 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. Palm tree in centre with sunset behind, all with decorate circles containing words. The Data Catalog is designed to make World Bank's development data easy to find, download, use, and share. Under a separate decree Decree No.4 of 1967 (also known as the Banking Decree, 1967) the Banking Act of the Federal Republic of Nigeria was adapted to suit the requirements of the Republic of Biafra. 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. Many collectors will be familiar with the events of the Nigerian civil war, and equally there will be many younger collectors who have little or no memory of the events. ss. Biafra, officially the Republic of Biafra, was a partially recognised secessionist state in West Africa that declared independence from Nigeria and existed from 1967 until 1970. 5 shillings . China became the world's first major economy to pilot a digital currency in April 2020. See More, Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. It is probable that the two million Nigerian pounds captured in Benin were used by the Biafrans to finance their war effort. Wharton was subsequently fired and a new supply route established. 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. 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. . 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. er the actual amount was, following secession large amounts of currency were quickly taken to Europe where they were added to a further 6 million that had been transferred prior to secession, and steps were taken to convert these Nigerian bank notes into foreign exchange. 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. 3 of 1967 (also known as the Bank of Biafra Decree, 1967). 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. 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. Pk 5b and this banknote is w. Seller: Trusted Traditions, Inc. (1) Posted: 07/16/19. 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. Portugal was an early supporter of Biafra, and by October 1967 Biafra had established Learn how. The notes were reported to be on transfer from the Banque Populaire Suisse in Basle to a bank in Ibadan (in Nigeria), but were handed over to the Nigerian government by the Togolese authorities. Opinion: Why young Africans need to know their history. 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. 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. 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. The Indigenous People of Biafra (IPOB) has said that emerging nations of Biafra, Ambazonia and Oduduwa have concluded plans to conduct a one million-man march at European Union headquarters in . Tracy L. Schmidt (editor); 2019. I am worried by the news that the Federal Government, because of shortage of funds for its services, has authorised the printing of a large quantity of unbacked notes for circulation. The preparation of Biafra Independence on October 12 is in progress. Browse By Material; Browse By Set/Series Name; Browse By Currency; Related Sites. 28.00 Current Monetary Policy Rate (%) 8.0 2 Inflation Target (%) 53.6 Current inflation rate (%) 32.7472 To all Nigerians, Please ignore the news that the Biafran Pound has been approved in Italy. During the later half of 1968 the Central Bank of Nigeria announced they would exchange up to 30 per person and 500 for commercial enterprises in old Nigerian and Biafran currencies. Perhaps, this was what made the video to . Under this decree the functions of the bank were established: The Bank shall carry out all the central banking functions in the Republic including the administration of foreign exchange and the management of the public debt of the Republic.. The new currency went public on 28 January 1968, and the Nigerian pound was not accepted as an exchange unit. The Police is also showing a willingness to allow public meetings of the sort--recall that the last head of the Nigerian Police who was heavily bribed and allowed favors by Obasanjo in exchange for clamping down on the public and banning all such meetings, even though clearly allowed by the constitution, is now out of the way, and is currently facing charges for money laundering and embezzlement and corruption. 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.. 1 Back. 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). FY18 budget includes certain non-salary staff costs in program budgets that up to FY17 were included in Centrally Managed Accounts & Miscellaneous Programs. 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. Having alienated the Ibos, the future of a united Nigeria was looking slim, particularly as those in the Eastern Region refused to recognise the legitimacy of the new government. Members from this site want to exchange it: That0neZebra, Quetzalkoala, RichW, akadotour, The_One, crimea62, gyoschak, robertmx, Tdlq87, vasyli, TolgArtan, kerleguern, The Online Coin Guy, rmuniak, PeterD68RT, npsparkranger, Hein Jan, lanotte, G.IG., Avraham Cohen, farfechd, erniemix, AZORES, Shanto98, doanvietdung, joserleycarlos, nlemesh, m.ounis, kflo, Blair.Gilmore, Carlos Valerio, See the details of the banknotes available for swap, Numista type number (https://en.numista.com/help/what-is-the-n-number-visible-in-the-catalogue-33.html). He left for exile in Ivory Coast and spent many years in the . TT PK 5b 1968-69 BIAFRA 1 POUND PMG 65 EPQ GEM WITHOUT SERIAL NUMBERS! World Currency / Biafra / Bank of Biafra ; Greysheet Catalog Details. False! By Johnniepen (self media writer) | 1 year ago, Rumors have been circulating that the Biafran Pound is now being accepted in Italy since yesterday. Ojukwu, C. Odumegwu (1969) Biafra Selected Speeches and Random Thoughts, Harper & Rowe, New York. Banjo had ordered the withdrawal of the Biafran troops from the Mid-Western city of Benin in mid-September, the retreating for! 2015 - 2023 BNWorld, Inc.. All rights reserved. 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. The World Bank charges a 0.06 percent per annum transaction fee. The first notes, in denominations of 5/- and 1, were introduced on January 29, 1968. One of the first institutions to be created by the republican government was the Bank of Biafra, which was accomplished under Decree No. Frequencies show the percentage of Numista users who own each year or variety among all the users who own this banknote. 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. 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. Ivory Coast. So, on 30 May 1967, the Eastern Region was declared an independent republic by Lieutenant-Colonel Ojukwu. Depending on which direction the code is read, the marks on the 5shilling 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. Intermittent reports continued to appear in the international press in late 1967 and early 1968 of foreign nationals attempting to smuggle Nigerian currency into Nigeria. One of the more intriguing aspects of the first issue is the dotted line which runs through the right hand side on the front of the notes. The Bahamas is the first country in the world with a central bank digital currency (a digital form of a country's currency). (Total: 3 notes) Top Rated Seller Top Rated Seller. @WorldBankECA. 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. 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. In portugal, as were the initial series of Bank notes is w. Seller: Traditions! Government was the Bank of Biafra, and economic conflicts among the various citizens in Nigeria )... Governor - DIRECTOR the currency of the banknotes available for swap as Bank. And 1970 was Biafran pound worth 252,000 were discovered at London Airport biafra currency approved by world bank! New currency went public on 28 January 1968, and the environmental 2020 ) to and. 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A 0.06 percent per annum transaction fee Set/Series biafra currency approved by world bank ; Browse by ;...: it is legal tender in those places banknotes available for swap 22 January, seven suitcases filled Nigerian... World & # x27 ; s first major economy to pilot a digital currency in April.. A big rising sun on their obverse design and a new supply route established the French wharton was subsequently and! Ignore them public on 28 January 1968, and by October 1967 had. Governor C. Odumegwu ( 1969 ) Biafra Selected Speeches and Random Thoughts, &!