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Currency history

West African Currency Board pound

West African Currency Board pound: a historical unit of account.

Dates in use
Introduction and ending not established
Ancestry branch
Sterling
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Where this money came from

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7 ancestors · 8 descendants. Follow a name to its history. Select a dated connection for its evidence.

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The story

Krus and Schuler distinguish WACB establishment on 6 December 1912 from first currency issue on 26 June 1913. [1]

Large-scale WACB banknote issue began on 11 July 1916; the compilation also reports a small £9 balance at June-end. [2]

The WACB pound exchanged at sterling parity, with commissions; parity did not imply costless remittance. [3]

Turning points

Territorial tender end

WACB legal-tender status in Nigeria ended on 1 July 1962, later than national issue. [4]

Territorial note tender end

Krus and Schuler report final Gambian WACB note tender ending 1 September 1966 and coin tender ending 1 June 1968. [5]

Issuer liquidation completed

The WACB remained in liquidation until 31 October 1973, after its monetary role ended. [6]

Sources and evidence

  1. Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) C398 ↗
  2. Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) C399 ↗
  3. Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) C400 ↗
  4. Central Bank of Nigeria · Currency Gallery C413 ↗
  5. Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) C402 ↗
  6. Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) C403 ↗

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Cite this page

“West African Currency Board pound.” The Family Tree of Money. © Field Technologies, Inc. Reader edition 2026-10-13; research dataset v44. https://familytreeofmoney.org/currency/T-FTM000640.html

Editorial evidence supplement · Download dataset v44

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