BIAFRA WAR PART 18: Things you don’t know about the Biafra Money notes/Legal tender
Once secession was declared it became clear that the war effort required a great deal of military equipment—artillery, planes, boats, tanks, guns, grenades, mines, bombs, etc. Biafra needed the means to access foreign exchange and a legal tender for commerce. One of the first things the new government did was to establish the Bank of Biafra.
1. The Bank of Biafra was located in Enugu until the city fell in October 1967,
2. The Bank of Biafra was moved several times to different locations all over Igbo land,
with the seat of government. The bank’s first governor was Dr. Sylvester Ugoh.
3. The legal tender produced by the institution in January 1968 was designed by
Simon Okeke and other talented local artists.
4. The first denominations of the Biafra Legal tender were the
five shillings and one pound notes.
5. About a year later, the ten, five, and one pound, as well as the ten and five shilling notes, were issued.
6. Despite Biafra Legal Tender’s usefulness, it was not a recognized legal tender beyond Biafra’s borders and could not be used for foreign exchange.
7. This dilemma produced a number of challenges for the Biafran government and people had to use private bank accounts of wealthy Biafrans to perform transactions abroad.
Below is more Images of the Biafra legal tender