The Central Bank of Biafra carried out all central banking functions including the administration of foreign exchange and the management of the public debt of the Republic. The bank was administered by a governor and four directors; the first governor was Dr Sylvester U. Ugoh, a Harvard-trained Economist.

The bank was first located in Enugu, but due to the ongoing war, the bank was relocated several times. The currency of Biafra had been the Nigerian pound, until the Bank of Biafra started printing out its own notes, the Biafran pound. The new currency went public on January 28, 1968, and the Nigerian pound was not accepted as an exchange unit. #HistoryVille

Credits: Gre Omar


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