Lt. Colonel Odumegwu Ojukwu, leader of secessionist Biafra, announces introduction of new currency and postage stamps, officially issued on January 29th, at a meeting of his consultative assembly in Owerri.
It was reported on the January 30th that, in an interview earlier this week, Ojukwu told United Press International that he would welcome U.S. intervention to end the bitter six-month old civil war caused by Biafra's breakaway from Nigeria.
The pound (symbol £) was the currency of the breakaway Republic of Biafra between 1968 and 1970.
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 2/6 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: 2/6 (=£0.125 STG) for Biafran £1 notes when sold in British notaphily shops), and 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.
Date: 29th of January 1968