Biafran pound GudangMovies21 Rebahinxxi LK21

      The pound (symbol £) was the currency of the breakaway Republic of Biafra between 1968 and 1970.


      Context


      The Republic of Biafra existed from 1967 to 1970 as an independent state between Nigeria and Cameroon. The central bank of Biafra was one of the first institutions created. It was then decided to maintain the Nigerian pound. The young Republic relied heavily on foreign exchange for cash, which turned into a risky venture.
      On 27 January 1968, Biafran President C. Odumegwu Ojukwu declared:

      "Fellow countrymen, I am happy to announce to you that I have today signed a decree introducing Biafran currency notes which will be the legal tender throughout the Republic of Biafra. By that same decree, Nigeria currency notes will cease to be legal tender in Biafra. Our new currency notes, along with our new postage stamps, will be issued to the public on 29 January 1968."
      The first notes, in denominations of 5/– and £1, were introduced on 29 January 1968. A series of coins was issued in 1969; 3d, 6d, 1/–, and 2s 6d coins were minted, all struck in aluminium. In February 1969, a second family of notes was issued in denominations of 5/– and 10/–, £1, £5 and £10. Despite not being recognised currency by the rest of the world when issued, the banknotes were afterwards sold as curios (typically at an eighth of their face value, or 2/6 sterling for Biafran £1) in British notaphily shops. The notes are now traded among banknote collectors at well above their original nominal value.
      The most commonly found notes are the 1968 and 1969 £1 notes, with the £10 note and all coins being rare.
      All banknotes issued by the Bank of Biafra are undated, though the dates of issuance are known. All notes bear the signature of bank Governor Sylvester Ugoh and Director William Uzoaga.


      See also



      Nigerian pound
      Nigerian naira
      Postage stamps and postal history of Biafra


      References




      External links


      Banknotes of Biafra."Archived copy". Archived from the original on 29 June 2011. Retrieved 13 January 2006.{{cite web}}: CS1 maint: archived copy as title (link) CS1 maint: bot: original URL status unknown (link)
      Coins with Nigerian naira
      A detailed article on the banknotes of the Biafran pound pjsymes.com.au
      Biafra: Coins Issued and Used Online Coin Club

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