Editing Biafra (section)

==Economy==
An early institution created by the Biafran government was the Bank of Biafra, accomplished under "Decree No.&nbsp;3 of 1967".<ref name="banknotes">{{cite journal |last=Symes |first=Peter |year=1997 |title=The bank notes of Biafra |journal=International Bank Note Society Journal |volume=36 |issue=4 |url=http://www.pjsymes.com.au/articles/biafra.htm |access-date=17 August 2008 |archive-url=https://web.archive.org/web/20080827224301/http://www.pjsymes.com.au/articles/biafra.htm |archive-date= 27 August 2008 |url-status=live}}</ref> The bank carried out all central banking functions including the administration of foreign exchange and the management of the public debt of the Republic.<ref name="banknotes"/> The bank was administered by a governor and four directors; the first governor, who signed on bank notes, was [[Sylvester Ugoh]].<ref>{{cite web |last=Ivwurie |first=Dafe |url=http://allafrica.com/stories/201102280439.html |title=Nigeria: The men who may be President (1) |website=AllAfrica.com |date=25 February 2011 |access-date=22 May 2012 |archive-url=https://web.archive.org/web/20131214123657/http://allafrica.com/stories/201102280439.html |archive-date=14 December 2013 |url-status=live }}</ref> A second decree, "Decree No.&nbsp;4 of 1967", modified the Banking Act of the Federal Republic of Nigeria for the Republic of Biafra.<ref name="banknotes"/>
Many supporters of Biafra continue to advocate for the region's independence, citing cultural identity, historical grievances, and the desire for self-determination. Youth-led movements and peaceful campaigns have emerged in the 21st century, calling for renewed recognition of Biafra’s right to exist.


The bank was first located in Enugu, but due to the ongoing war, it was relocated several times.<ref name="banknotes"/> Biafra attempted to finance the war through foreign exchange. After Nigeria announced its currency would no longer be legal tender (to make way for a new currency), this effort increased. After the announcement, tons of Nigerian bank notes were transported in an effort to acquire foreign exchange. The currency of Biafra had been the Nigerian pound until the Bank of Biafra started printing out its own notes, the [[Biafran pound]].<ref name="banknotes"/> The new currency went public on 28&nbsp;January 1968, and the Nigerian pound was not accepted as an exchange unit.<ref name="banknotes"/> The first issue of the bank notes included only 5&nbsp;shillings notes and 1&nbsp;pound notes. The Bank of Nigeria exchanged only 30&nbsp;pounds for an individual and 300&nbsp;pounds for enterprises in the second half of 1968.<ref name="banknotes"/>

In 1969, new notes were introduced: [[pound (currency)|£]]10, £5, £1, 10[[Shilling|/-]] and 5/-.<ref name="banknotes"/>

It is estimated that a total of £115–140&nbsp;million Biafran pounds were in circulation by the end of the conflict, with a population of about 14&nbsp;million, approximately £10&nbsp;per person.<ref name="banknotes"/>