Bank of Biafra

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The Bank of Biafra was the central bank of The Republic of Biafra. It was established on May 30, 1967, under Decree No. 30 of 1967 by Biafran president Odumegwu Ojukwu. It was headed by a governor and a board of four directors; the first governor and only was Sylvester Ugoh.^[1] The Bank issued its first notes being £1 and 5/- on January 27, 1967 in a speech announced by Biafran president Odumegwu Ojukwu in Umuahia, the Biafran Capital. On 28 January 1969, Biafra issued its first coins 3d, 6d, 1%, and 2.5%. Again in February 1969, the Bank of Biafra redesigned the £1 and 5/- notes and issued new notes being 10/-, £5, £10.