BIAFRA HISTORY — 29 JANUARY 1968: THE BIAFRAN POUND WAS INTRODUCED in 1968, the Biafran Pound entered circulation, not as a symbol of economic growth, but as a survival instrument in a region already under extreme wartime pressure. Prior to secession, the Eastern Region operated within Nigeria’s monetary system, using the Nigerian pound which was tied to the British sterling. That system collapsed for the region after the declaration of independence in May 1967. Federal restrictions cut off access to national currency flows and international commerce, effectively isolating Biafra from formal financial networks. In response, the Biafran authorities created a local currency system. With limited machinery, scarce materials, and improvised infrastructure, the newly formed Bank of Biafra began producing banknotes to keep basic trade and administration functioning. The initial currency release consisted of 5-shilling and 1-pound notes. Later issues expanded mainly into higher denominations, particularly £5 and £10 notes. Unlike conventional monetary systems, no coins were minted — the entire currency system existed only in paper form. However, the fragile economic situation deteriorated further following the fall of Port Harcourt — Biafra’s last major seaport and external supply gateway. Its capture severed remaining maritime access routes and deepened economic strangulation. As months passed, shortages worsened. Foreign exchange disappeared. Printing materials for currency production became difficult to obtain. Inflation surged as goods vanished from circulation. In late 1969, additional banknote issues were introduced in an effort to steady the economy, but by then the collapse of purchasing power had become unavoidable. Currency value declined sharply as scarcity overwhelmed monetary control. By the end of the war in 1970, estimates suggest that up to £150 million worth of Biafran banknotes had entered circulation. #biafra #may30th #freebiafra #ipob #biafrantiktok - @okorodi1