The Biafra Telegraph. The war continued for two and a half years, with Biafra finally capitulating on 15 January 1970. Under the decree, the central office of the Bank of Biafra was to be in Enugu, which was the capital of the Republic. It appeared on their flag, their coins and bank notes, on military insignia, and it gave rise to the title of their national anthem, Land of the Rising Sun. (From other reports in the press at the time, this appeared to be the general rate available for the notes. The palm tree was important because of its economic significance to Biafra next to oil, products from the palm trees were the most valuable exports from the region prior to the new republic being declared. However Enugu was one of the first casualties of the war, and the administrative centre of Biafra was moved to several locations (including Aba, Umuahia and Orlu) during the course of the war. With the short time at our disposal, we could only produce notes in denominations of £1 and 5/-; we could not produce coins. The total value of each series printed, based on the numbers extrapolated above, was £50 million for the first issue and £148.5 million for the second issue, making a total of £198.5 million. Example: type "5 cent*" to find coins of 5 cents and 5 centimes. To search an expression, simply put quotation marks around it. When Nigeria announced the introduction of their new note issue was to be on 3 January 1968, the Biafrans were still collecting Nigerian notes. Consequently there were three currencies circulating in Nigeria new Nigerian notes in the West and North, Biafran notes in the areas controlled by the rebels and old Nigerian notes in those areas of the East which had been liberated by the Nigerians. The 10-pound note has a male carver depicted on its back, as well as having the coat of arms in a white disc to the left. Unissued copies of ten year bonds for the value of one thousand pounds, dated 15 June 1969 and offered through the London agents of the Republic of Biafra, are extant and show that this method of financing was attempted although it is not known how many bonds were actually issued. Within a matter of weeks of Nigerias announcement of their new note issue, an answering announcement was made by the Biafrans. They came, I ran out of money. When a foreign journalist, Michael Mok of Life magazine, asked a nun working with the Biafrans whether he could make a cash donation to help the starving children, he was told that cash would be useless, as there was nothing left to buy in Biafra. Although Biafra had made a concerted effort to produce the second series of higher quality bank notes, it would appear that their circulation was limited. Although reports had appeared in the international press as early as June 1967 that Biafra intended to issue its own bank notes, it was not until 1968 that the first bank notes were introduced. Find biafra and biafra 10 from a vast selection of Paper Money: World. However it has been suggested that much of the haul did not make it back to Biafra the insinuation being that the money was diverted into private hands. $89.00. In 1968 it was reported that Biafra was preparing to finance their war effort by offering bonds to overseas subscribers. According to documents illustrated in the Daily Times (Lagos) on 9 August 1967, the mineral rights for columbite ore, uranium, coal, tin concentrates, natural oil, and gold ore were ceded to the Rot(h)schild Bros Bank for a period of ten years. 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