Currencies/Biafran pound

Introduction

The Biafran pound was the currency of the secessionist Republic of Biafra from 1968 to 1970. It replaced the Nigerian pound and was subdivided into 20 shillings, each of 12 pence, following the British pre-decimal system.

History

Biafra declared independence from Nigeria in May 1967, which led to the Nigerian Civil War. In January 1968, the Biafran pound was introduced as part of the new republic’s efforts to establish monetary independence from Nigeria.

The introduction of the pound was intended to symbolize sovereignty and provide a functioning legal tender inside Biafra. However, because of the war and the lack of international recognition, the currency had little value outside Biafra. Following Biafra’s military defeat in January 1970, the pound was withdrawn and replaced by the Nigerian pound.

Banknotes

The first banknotes were issued in 1968, in denominations of 5 shillings, £1, and £10. Later issues included 10 shillings and £5 notes. All notes featured the rising sun emblem, a national symbol of Biafra, along with inscriptions promoting independence. The designs were simple but carried strong political and symbolic meaning.

Coins

In 1969, coins were introduced, struck in aluminium due to wartime shortages of other metals. Circulating denominations included 3 pence, 6 pence, 1 shilling, and 2½ shillings. The obverse designs displayed the Biafran rising sun, while the reverse carried the denomination and date. These coins were lightweight and modest in design but circulated as small change within Biafra.

Currency

The Biafran pound followed the same pre-decimal structure as the Nigerian and British systems

1 pound = 20 shillings

1 shilling = 12 pence

This made the Biafran pound directly comparable to the Nigerian pound it sought to replace.

Replacement

The Biafran pound was demonetized in 1970 after Biafra’s surrender and reintegration into Nigeria. The Nigerian pound again became the sole legal tender, and later was itself replaced by the Nigerian naira in 1973. Today, Biafran currency is of interest only to collectors and historians.