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:
The first notes, in denominations of 5/– and £1, were introduced on January 29, 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.
See also
Nigerian pound
Nigerian naira
Postage stamps and postal history of Biafra
References
External links
Banknotes of Biafra. 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
Pound (currency) Modern obsolete currencies Currencies of the Commonwealth of Nations Currencies of Nigeria Biafra 1967 establishments in Nigeria 1970 disestablishments Economy of Nigeria
