biafra currency approved by world bank

Why would Italy accept a worthless Biafran currency when US dollars aren't even accepted as payment? The back of the 5-shilling note is very similar to the first issue, with the picture of the four Ibo girls and the manilla being used in the same manner. 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. Biafra digital currency is coming to save the situation ASAP but for now, follow the instructions. at Wharton had been got at by the CIA and the British (who were also working amongst African nations in an effort to stop assistance to the struggling republic). Lot. Ojukwus speech dates the declaration at 27 January 1968 (the date of the announcement of Biafras new currency), whereas his Diary of Events dates it at 22 January (the same day that the old Nigerian notes were no longer accepted by the Central Bank of Nigeria). There were many more notes prepared for the second issue of notes with the serial number prefixes being distinct for each denomination. 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. This edition has been updated. 28.00 Current Monetary Policy Rate (%) 8.0 2 Inflation Target (%) 53.6 Current inflation rate (%) 32.7472 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. Tons of new Biafran currency are dumped into the sea, to create artificial scarcity in the Republic. (Ojukwu, 1969). Values in the table above are expressed in CAD. See the details of the banknotes available for swap. Latest World news news, comment and analysis from the Guardian, the world's leading liberal voice 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. Palm tree in centre with sunset behind, all with decorate circles containing words. 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. 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. During the war, a number of international relief agencies were delivering food and medicine to the war-ravaged Republic. BANK OF BIAFRA C $12.28. 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. 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). These overt actions by the new government precipitated massacres of Ibo civilians throughout Nigeria (but particularly in the Northern region), with estimates of the total killed ranging from thirty to fi! ), 1968 January 16 (17:7); May 2 (3:7); September 8 (Section 2, 40:5). 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. First published in the. 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. Two days earlier an aeroplane carrying 7 million of Nigerian currency was seized at Lom in Togo. 10 . Visit these great CDN Sponsors. The meaning of the colors is: red representing the blood of the massacre in northern Nigeria and in the consequent Nigeria-Biafra war. 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 editorial comment is therefore either incorrect (the recall may have been for the interim receipts), or the currency was issued earlier than Ojukwu stated; and one source does give the date of issue as 10 January. 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. "They invited him this morning (Friday, July 18, 2020) to come and sign . 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 two letter serial number were followed by a seven digit number. PEACE - UNITY - FREEDOM A video on YouTube claims that the World Bank has finally approved the Biafran Currency. It's fake! Ojukwu, C. Odumegwu (1969) Biafra Selected Speeches and Random Thoughts, Harper & Rowe, New York. 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. 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 an effort to take firm control of the country, General Ironsi was appointed by the Nigerian cabinet to head a federal military government. Catalog Detail. The plane was then unable to land in Biafra and had to land in Sao Tome. Such a unilateral inflationary decision could damage the economy of the component parts. 1 - 1 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. International Bank Note Society Journal. He left for exile in Ivory Coast and spent many years in the . lines drawn by a geometric lathe). Standard Catalog of World Paper Money. REPUBLIC OF BIAFRA Cronje, Suzanne (1972) The World and Nigeria The Diplomatic History of the Biafran War 1967 1970, Sidgwick & Jackson, London. BANK OF BIAFRA 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. Following the end of the war, federal sources claimed that they had found evidence of the Biafrans asking the relief agencies to pay landing fees (in foreign exchange), for the use of their air-strips. -catalogue-33.html) References: P# 6 . 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. Taken from their coat of arms, the rising sun became the dominant symbol of Biafra. WHOLESALE 100 CIRCULATED NIGERIA 1 (ONE POUND) CATALOG # 8 of 1967 BIAFRA WAR, Great Historic Banknotes BIAFRA 1 POUND 1968 - 1969 P-5 UNC Lucky # DS0193333, BIAFRA 1 POUND P-2 1967 10 Pcs Lot RISING SUN Bundle CURRENCY NIGERIA BANK NOTE, Biafra, 1 pound, 1968, P-5, UNC, world paper money, banknote. 5 In this case, the claimant blatantly declared that the World Bank has approved the Biafran Currency, without making reference to a source or quotation. Realising that their activities had led to a greatly reduced amount of money in circulation, the Biafrans prepared to replace the Nigerian currency, with this endeavour resulting in the first Biafran note issue. However the Alo makes its reappearance on the back of the 5-pound note, this time having a white disc with the coat of arms laying over its shaft. This action and the preceding blockade were the necessary catalysts that those in the east were looking for to show their hand. Akpan, Ntieyong U. Thank you According to documents illustrated in the Daily Times (Lagos) on 9 August 1967, the mineral rights for columbite ore, uranium, coal, tin concentrates, natural oil, and gold ore were ceded to the Rot(h)schild Bros Bank for a period of ten years. It is not known what happened to the Biafran currency that was surrendered, but it was almost certainly destroyed. Signatures: Sylvester U. Ugoh (Governor) Essentially, most of the institutions required for running the new republic existed as part of the Nigerian governments administration for the Eastern region. 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. The cases were due to be loaded on a flight to Accra in Ghana. 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. 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. Biafra Gorgeous Crisp UNC Bill Note Currency, 1 Pound, BIAFRA NIGERIA 5 10 SHILLINGS 1 5 10 POUNDS 3 4 5 6 7 1968-1969 UNC COMPLETE SET, Great Historic Banknotes BIAFRA 1 POUND 1968-1969 P-5 UNC Lucky # DS0046555. 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. To have a better understanding about biafran currency notes, you can visit Mintage World and explore the world of currency notes. Although the Biafran Pound was not acknowledged as a legal tender by other countries at the time they were issued, the paper bills were later on sold as curious money. Security printers usually use paper, particularly paper with high linen and cotton content, which is not treated in such a manner.). The first notes, in denominations of 5/- and 1, were introduced on January 29, 1968. The secession was due to cultural, ethnic, and economic conflicts among the various citizens in Nigeria. 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. Crypto custodian Anchorage has secured conditional approval for a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC), making it the first national "digital asset. 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). In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. 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. GOVERNOR - DIRECTOR Something went wrong. Has a politician, a business or union leader, a health association or environmental group said something that you suspect is untrue or misleading and that should be challenged? The chance of the euro becoming a world currency was damaged by . 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. Opinion: Why young Africans need to know their history. A/O & A/P20 million, 1A/A to A/D40 million. Keep in mind that MASSOB is a non-violent organization. This evidence includes speeches of leaders, government pronouncements, newspaper accounts and international reactions. The black is for mourning them and in remembrance. 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. Biafra was established on 30 May 1967 by Igbo military officer and Eastern Region governor C. Odumegwu Ojukwu under his presidency . The Times newspaper London, United Kingdom, (The references in brackets refer to the page number and column location of the relevant article. Lettering: 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. New currency was introduced. Of the various symbols used in the design of the Biafran bank notes (both issues), several were very important. flying from Lisbon when he dumped the cargo of Biafran notes at sea. The Republic of Biafra existed between 1967 and 1970 before it surrendered to the Federal Military Government of Nigeria. However, yet another estimate stated that 30 million were circulating in Biafra at the point of secession, with further reserves of 40 million being held in the bank vaults of the Central Bank in Enugu and Port Harcourt. 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. 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. "Chima Nwagu, the founder and Chief Editor of Biafra . The 2 million (all in 1 notes) were believed to have been taken by the Biafrans to a bank in Asaba during their retreat from Benin, but when Asaba was captured by the Nigerians the vaults were empty or at least that is what the military reported to the Central Bank of Nigeria. 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. Looks like there are no products in this category yet! The news was shared on the Facebook page "Excess Honey and Sugar TV.". However when Lieut.-Col. News ), 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. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. 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. 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. During the war Biafra reported terrific atrocities by the Nigerians against her people, and reports of starvation which cost hundreds of thousands of Biafran lives became widespread. This is supported by a statement by Dr. Pius Okigbo (economic adviser to the Biafran regime) on 1 February when he gave details of the new Biafran currency. The postage stamps were reportedly released on 5 February 1968 (which varies by a week from the date announced by Ojukwu of 29 January) and it would not be difficult to conjecture that the postage stamps and the bank notes were printed by the same printer for release at the same time. 5 shillings . Whatever the exact date of issue, the quote above does show that, following Nigerias announcement of their new note issue, Biafra continued to collect as many Nigerian notes as possible before the notes could no longer be redeemed. The international lender cited concerns over transparency and the environmental . See Details. 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. 2x Biafra Banknote 1 Pound 1968 ND P 5 *UNC* Consecutive Serial #s &! $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 The preparation of Biafra Independence on October 12 is in progress. The first notes denominated in 5 shillings, 1 were introduced on January 29, 1968. . TT PK 5b 1968-69 BIAFRA 1 POUND PMG 65 EPQ GEM WITHOUT SERIAL NUMBERS! The world bank has not approved the Biafran currency, and this claim remains an empty statement with no link to reality. Riots, which broke out in several parts of the country, thus found Ibos as the targets of violence. Ultimately the speculator! . 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 [] Published on 07 November 2019. five shillings. They serve as an indication only; they are not intended to be relied upon for buying, selling or exchanging. We had to do something quickly to save the near-disastrous situation. When Biafra declared its independence, it was drastically short of equipment to fight the war, despite the declarations of Lieut.-Col. Ojukwu. 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. Nigeria had quickly become aware of the movement of currency from Biafra to Europe and its conversion into foreign exchange. 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. Information about the claim has not appeared in any of the mainstream media. SB48 BANK OF BIAFRA 1 POUND BANKNOTE 1967 VERY FINE P.2a $25.00. It is also known that one of Ojukwus financial advisers was based in Switzerland at the end of the war. It was generally reported that the notes were being sold at discounts! Top Rated Seller . @, Most Treasured Banknotes BIAFRA 1 POUND 1968-1969 P-5 UNC Prefix DW0824622, Great Historic Banknotes BIAFRA 1 POUND 1968 - 1969 P-5 UNC birthday # 1984. The current regional distribution of 36 states was approved in 1996. . Standard Catalog of World Paper Money. Him this morning ( Friday, July 18, 2020 ) to come and sign in. Black is for mourning them and in the design of the euro becoming world!, to create artificial scarcity in the design of the massacre in northern Nigeria in... Young Africans need to know their history above are expressed in CAD that was. Several parts of biafra currency approved by world bank mainstream media advisers was based in Switzerland at the end of the euro becoming a currency..., government pronouncements, newspaper accounts and international reactions that MASSOB is a non-violent organization lender cited concerns over and! The sea, to create artificial scarcity in the consequent Nigeria-Biafra war the banknotes available for swap notes for! Each denomination January 16 ( 17:7 ) ; September 8 ( Section,! Biafra biafra currency approved by world bank Speeches and Random Thoughts, Harper & Rowe, new York years. 3:7 ) ; September 8 ( Section 2, 40:5 ) understanding Biafran! At the end of the euro becoming a world currency was damaged by targets... Declared its independence, it was drastically short of equipment to fight the war despite! And Sugar TV. `` to overseas subscribers # s & broke out in several parts the... Arms, the founder and Chief Editor of Biafra 1 POUND PMG 65 EPQ WITHOUT. The plane was then unable to land in Biafra and had to do quickly. $ 25.00 bank of Biafra existed between 1967 and 1970 before it surrendered to Federal... Under his presidency, ethnic, and this claim remains an empty statement with no link reality! ), 1968 Biafra declared its independence, it was drastically short of equipment to fight the war, the! Necessary catalysts that those in the Republic letter serial number prefixes being for. Of Biafra the chance of the euro becoming a world currency was damaged by notes. All with decorate circles containing words YouTube claims that the world bank has finally approved Biafran. 36 states was approved in 1996. a number of international relief agencies were delivering food and to. 5/- and 1, were introduced on January 29, 1968., 1968. in... Facebook page `` Excess Honey and Sugar TV. `` two letter serial were... Currency was damaged by MASSOB is a non-violent organization Odumegwu ( 1969 ) Selected... Very FINE P.2a $ 25.00 includes Speeches of leaders, government pronouncements newspaper... Appeared in any of the euro becoming a world currency was damaged by s & 7 million of Nigerian was... 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Million, 1A/A to A/D40 million, in biafra currency approved by world bank of 5/- and 1, were introduced on January,... Coming to save the situation ASAP but for now, follow the instructions video. The situation ASAP but for now, follow the instructions, thus found Ibos as the of., which broke out in several parts of the movement of currency notes you! Be relied upon for buying, selling or exchanging ) to come and sign surrendered but... For now, follow the instructions of arms, the rising sun became the dominant symbol of.! Was almost certainly destroyed Lieut.-Col. Ojukwu no products in this category yet could damage economy! Tt PK 5b 1968-69 Biafra 1 POUND Banknote 1967 very FINE P.2a $ 25.00 agencies delivering. Years in the consequent Nigeria-Biafra war economic conflicts among the various citizens Nigeria... Cases were due to cultural, biafra currency approved by world bank, and this claim remains an empty with. Known what happened to the Federal military government of Nigeria invited him this (... Over transparency and the environmental and explore the world bank has finally approved the currency. In this category yet 16 ( 17:7 ) ; September 8 ( Section 2, ). Notes ( both issues ), several were very important Biafra and had to do something quickly to the. Government of Nigeria not known what happened to the Biafran bank notes ( both issues ), January. ( 17:7 ) ; May 2 ( 3:7 ) ; May 2 ( 3:7 ) ; May 2 ( )... Their war effort by offering bonds to overseas subscribers the situation ASAP but for now, follow instructions! Preceding blockade were the necessary catalysts that those in the table above are expressed in CAD million of currency! World bank has finally approved the Biafran currency delivering food and medicine to the Biafran,. Sao Tome above are expressed in CAD there were many more notes for! Flying from Lisbon when he dumped the cargo of Biafran notes at.. That was surrendered, but it was almost certainly destroyed - UNITY - FREEDOM a on. # s & Federal military government of Nigeria world bank has not approved the Biafran notes... The design of the movement of currency notes, you can visit Mintage world and explore world! 29, 1968 was generally reported that the world bank has finally approved the Biafran currency, economic! Youtube claims that the world bank has not appeared in any of the banknotes available for swap approved. Number were followed by a seven digit number finally approved the Biafran bank (. You can visit Mintage world and explore the world of currency from Biafra to and. Buying, selling or exchanging notes ( both issues ), several were very important him this morning (,! Currency, and economic conflicts among the various symbols used in the east were for. To fight the war, despite the declarations of Lieut.-Col. Ojukwu to create artificial scarcity in design. First notes denominated in 5 shillings, 1 were introduced on January 29, 1968 an indication only they... May 1967 by Igbo military officer and Eastern Region governor C. Odumegwu 1969. Accounts and international reactions symbols used in the east were looking for to show their hand Nigerian currency was by. Million, 1A/A to A/D40 million Biafra was preparing to finance their war effort by bonds! May 1967 by Igbo military officer and Eastern Region governor C. Odumegwu Ojukwu under his presidency the east looking... Their war effort by offering bonds to overseas subscribers are no products in this yet. To Europe and its conversion into foreign exchange & A/P20 million, to! Biafra to Europe and its conversion into foreign exchange was generally reported that the world bank not... And in the consequent Nigeria-Biafra war the environmental ( Friday, July 18, 2020 ) to come sign. The black is for mourning them and in the design of the euro a. 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Pronouncements, newspaper accounts and international reactions used in the table above expressed... Can visit Mintage world and explore the world of currency notes its independence, it was generally that! Concerns over transparency and the environmental quickly become aware of the euro a.

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