Biafran pound facts for kids
Quick facts for kids Biafran pound |
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|---|---|---|---|---|---|
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| User(s) | Biafra | ||||
| Subunit | |||||
| 1⁄20 | shilling | ||||
| 1⁄240 | penny | ||||
| Symbol | £ | ||||
| shilling | s or /– | ||||
| penny | d | ||||
| penny | pence | ||||
| Coins | 3d, 6d, 1/–, 2/6 | ||||
| Banknotes | 5/–, 10/–, £1, £5, £10 | ||||
The Biafran pound (symbol £) was the official money used in the Republic of Biafra. This country existed for a short time, from 1968 to 1970.
Contents
What Was the Biafran Pound?
The Republic of Biafra was a part of Nigeria that tried to become an independent country. It was located between Nigeria and Cameroon. Biafra existed from 1967 to 1970.
One of the first things Biafra did was create its own central bank. At first, they planned to keep using the Nigerian money. But getting foreign money was very difficult and risky for the new country.
Why Did Biafra Need Its Own Money?
To be truly independent, Biafra decided it needed its own currency. On January 27, 1968, Biafran President C. Odumegwu Ojukwu made an important announcement.
He told his people that he had signed a new law. This law would create Biafran currency notes. These new notes would be the only legal money in Biafra. Nigerian money would no longer be accepted there.
When Was Biafran Money First Used?
The first Biafran money was released very quickly. On January 29, 1968, new banknotes were given to the public. These first notes came in two values: 5 shillings and £1.
In 1969, Biafra also started making its own coins. These coins were made from aluminium. They came in values of 3 pence, 6 pence, 1 shilling, and 2 shillings 6 pence.
Later Biafran Money and Its Value
In February 1969, a second set of banknotes was released. These notes had more values. They included 5 shillings, 10 shillings, £1, £5, and £10.
Other countries did not officially recognize Biafran money. However, after Biafra's existence ended, the banknotes became popular with collectors. People who collect banknotes (called notaphilists) would buy them. Today, these notes are worth much more to collectors than their original value.
The most common notes found are the £1 notes from 1968 and 1969. The £10 note and all the coins are quite rare.
Types of Biafran Banknotes
Here are the different banknotes that Biafra used:
| Banknotes of the Biafran pound (1968 "First" issue) | ||
|---|---|---|
| Value | Front Side | Back Side |
| 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 | Front Side | Back Side |
| 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 |
See also
- Nigerian pound
- Nigerian naira
- Postage stamps and postal history of Biafra
