Biafran pound

Biafran pound


Biafran 2+1⁄2 shilling coin from 1969; aluminium, reverse.	Biafran 2+1⁄2 shilling coin from 1969; aluminium, obverse.

ISO 4217

Unit

Symbol

£‎

Denominations

Subunit

¹⁄₂₀

shilling

¹⁄₂₄₀

penny

Plural

penny

pence

Symbol

shilling

s or /–

penny

Banknotes

5/–, 10/–, £1, £5, £10

Coins

3d, 6d, 1/–, 2/6

Demographics

Date of introduction

29 January 1968

Date of withdrawal

1970

User(s)

Biafra

Issuance

Central bank

Bank of Biafra

This infobox shows the latest status before this currency was rendered obsolete.

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

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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.^[1]

On 27 January 1968, Biafran President C. Odumegwu Ojukwu declared:^[1]

"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 January 29, 1968."

The first notes, in denominations of 5/– and £1, were introduced on January 29, 1968.^[2] 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.

Banknotes of the Biafran pound (1968 "First" issue)
Value	Obverse	Reverse
5/–	Palm tree over a rising sun	Four Biafran girls
£1	Palm tree over a rising sun	Coat of arms of Biafra

Banknotes of the Biafran pound (1969 "Second" issue)
Value	Obverse	Reverse
5/–	Palm tree over a rising sun	Four Biafran girls
10/–	Palm tree over a rising sun	Oil refinery
£1	Palm tree over a rising sun	Coat of arms of Biafra
£5	Palm tree over a rising sun	A female weaver
£10	Palm tree over a rising sun	A male carver

References

^ ^a ^b "Biafra Currency". www.biafraland.com. Retrieved 2023-06-09.
^ Linzmayer, Owen (2011). "Biafra". The Banknote Book. San Francisco, CA: www.BanknoteNews.com. Retrieved 2011-08-21.

External links

Banknotes of Biafra."Archived copy". Archived from the original on 2011-06-29. Retrieved 2006-01-13.{{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

Biafra articles

History

Geography

Politics

Ethnic groups

Culture

Category

v t e Currency units named pound, lira, or similar
Circulating	Egyptian pound Lebanese pound Pound sterling Alderney pound Falkland Islands pound Gibraltar pound Guernsey pound Jersey pound Manx pound Saint Helena pound South Sudanese pound Sudanese pound Syrian pound Turkish lira Ukrainian hryvnia
Local alternative currency	Bristol pound Brixton pound Exeter pound Lewes pound Liverpool pound Stroud pound Totnes pound
Defunct	Aeginetan mina AM-Lira Angevin pound Attic mina Australian pound Bahamian pound Bermudian pound Biafran pound British West African pound Byzantine litra Canadian pound Connecticut pound Cypriot pound Delaware pound Fijian pound French livre Livre parisis Livre tournois French colonial livre Guadeloupe livre Haitian livre New France livre Saint Lucia livre Gambian pound Georgia pound Ghanaian pound Irish punt Israeli lira Italian lira Italian East African lira Italian Somaliland lira Jaca pound Jamaican pound Japanese government-issued Oceanian pound Jersey livre Libyan pound Lombardo-Venetian lira Luccan lira Luxembourg livre Malawian pound Maltese pound Maryland pound Massachusetts pound New Brunswick pound New Guinean pound New Hampshire pound New Jersey pound New York pound New Zealand pound Newfoundland pound Nigerian pound North Carolina pound Nova Scotian pound Ottoman lira Palestine pound Papal lira Parman lira Pennsylvania pound Peruvian libra Pound Scots Prince Edward Island pound Rhode Island pound Rhodesian pound Rhodesia and Nyasaland pound Roman pound Sammarinese lira Sardinian lira Solomon Islands pound South Carolina pound Southern Rhodesian pound South African pond South West African pound Tongan pound Tripolitanian lira Tuscan lira Vatican lira Venetian lira Virginia pound Western Samoan pound Zambian pound
Historical antecedents (mass)	Roman pound (libra) Moneyer's pound (England) Grzywna (Grivna)
See also	Pound sign (£) Dinar Pound (mass) (℔) Roman currency Carolingian monetary system £sd

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This page was last edited on 31 May 2024, at 16:22

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See also

References

External links