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Nigerian pound: research record

Evidence coverage: 1959–1973. This is the span of collected observations, not the currency’s lifetime.

This record includes associated currencies and earlier interpretations. The article selects the evidence relevant to its own history.

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Currency continuity

Nigerian pound

T-FTM000643 · Research draft
One scoped currency identity. Changes to subdivisions, scale, standard, instruments or issuers do not by themselves create children. A distinct account unit can remain a successor.
Dated observations: 1959–1973; this does not establish the entire lifetime.

Parents / predecessors

West African Currency Board poundnational issue succeeds regional currency · 1 July 1959
↗

Children / successors

Nigerian nairadecimal currency replacement · 1 January 1973
↗
Biafran poundterritorial currency separation · 1968
↗

Siblings

Unit and issue records 1 records

Evidence within this identity, not separate currencies.

Nigerian poundFTM000643 · C412, C413, C414, C415, C433

Latest research

Modern account-unit review

1967decree retained Nigerianmoney; January1968replacement establishes Biafran monetarysuccession; actual1969oil obligation denominated in Biafranpounds independently establishes contractualidentity. Originalnumismaticresearch reproduces law; directjudgment proves realunit. Exactfirstday and universalratio withheld. Supported relationship from explicit contemporary monetary succession; range and missing universal ratio remain scoped limitations, not a doubtful existence claim.

Sources and qualifications →
Monetary history 4 events

Includes dated issues, standards, subdivisions and institutional changes. Each event retains the source's date qualifications.

1 July 1959First national issue

Nigeria issued its national notes and coins on 1 July 1959 while withdrawing WACB issues.

C412
1965 republic design changeNote redesign

Inference: Nigeria redesigned notes in 1965 and again during the civil war in 1968; these are recorded as issue changes.

C414
1968 civil-war issue changeNote replacement

Inference: Nigeria redesigned notes in 1965 and again during the civil war in 1968; these are recorded as issue changes.

C414
1 January 1973Unit replacement

Decimal notes and coins began on 1 January 1973; one naira equalled ten old shillings, or two naira per pound.

C415
Evidence & research notes 8 claims

Dated observations, not a proven complete lifespan.

Supported C412

Nigeria issued its national notes and coins on 1 July 1959 while withdrawing WACB issues.

Central Bank of Nigeria · Currency Gallery Citation S191 · Open source ↗

historical narrative, paragraph beginning On July 1st

Source access and limitations

Opening statement dates notes to 1912; archival research instead separates board formation, coins and large-scale note issue.

Later denomination summaries not adopted wholesale.

Supported C413

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

Central Bank of Nigeria · Currency Gallery Citation S191 · Open source ↗

same paragraph

Source access and limitations

Opening statement dates notes to 1912; archival research instead separates board formation, coins and large-scale note issue.

Later denomination summaries not adopted wholesale.

Inference C414

Nigeria redesigned notes in 1965 and again during the civil war in 1968; these are recorded as issue changes.

Central Bank of Nigeria · Currency Gallery Citation S191 · Open source ↗

1963 republic and 1968 paragraphs; classification is editorial

Source access and limitations

Opening statement dates notes to 1912; archival research instead separates board formation, coins and large-scale note issue.

Later denomination summaries not adopted wholesale.

Supported C415

Decimal notes and coins began on 1 January 1973; one naira equalled ten old shillings, or two naira per pound.

Central Bank of Nigeria · 1973 Currency Issue Citation S192 · Open source ↗

opening paragraph; arithmetic from twenty-shilling pound

Source access and limitations

Obvious dimensions and coin-label problems elsewhere on the page are not used.

Denomination withdrawal is not extinction of the naira.

Inference C433

The CBN’s 1912 start for WACB notes conflicts with the archival compilation’s separation of establishment and 1916 large-scale note issue.

Central Bank of Nigeria · Currency Gallery Citation S191 · Open source ↗

opening paragraph compared with S189 pp.244–245

Source access and limitations

Opening statement dates notes to 1912; archival research instead separates board formation, coins and large-scale note issue.

Later denomination summaries not adopted wholesale.

Nicholas Krus and Kurt Schuler · Currency Board Financial Statements, Studies in Applied Economics No.22 (December 2014) Citation S189 · Open source ↗

pp.244–245

Source access and limitations

Underlying annual reports and ordinances not independently inspected.

Gambia coin date conflicts with the indexed central-bank account.

Institutional liquidation is not currency termination.

Supported C456

The reproduced Nigerian Decimal Currency Act converts one former Nigerian pound into two naira for covered contracts, liabilities and statutory references.

Nigeria; text reproduced by Policy and Legal Advocacy Centre · Decimal Currency Act and Decimal Currency (Exchange) Notice Citation S206 · Open source ↗

s.1(2)–(3); original Gazette not yet checked

Source access and limitations

Commencement header refers to sections absent from the displayed text; notice identifier/date also needs Gazette verification.

Reported provisions are retained with provenance qualification.

Qualified C1425

The Biafran payment unit separated regionally from the retained Nigerian-pound system in January 1968. The reviewed evidence does not establish a universal conversion ratio.

Corrected interpretation: Revision 27 supplies a new evidence basis for R-V26-007. Originalnumismaticresearch reproduces law; directjudgment proves realunit. Exactfirstday and universalratio withheld. Supported relationship from explicit contemporary monetary succession; range and missing universal ratio remain scoped limitations, not a doubtful existence claim. Replacement evidence: C1589.

Peter Symes · Peter Symes, The Bank Notes of Biafra, IBNS Journal 36(4), 1997, updated edition reproduced on Biafran.org Citation S713 · Open source ↗

Attributed article beginning below the page introduction; The Bank of Biafra; The first Republic of Biafra Bank note issue; final recall paragraphs before Bibliography; Opening facts (February 1969 oil sale); discussion of Decree 48/1968; final paragraphs on absence of official conversion and prohibited substitution

Source access and limitations

Not a complete origin, lifespan or current-status audit.

Supreme Court of Nigeria · Chief A.N. Onyiuke III v. G.E. Okeke, SC.430/1974, Supreme Court of Nigeria, 5 March 1976 Citation S708 · Open source ↗

Attributed article beginning below the page introduction; The Bank of Biafra; The first Republic of Biafra Bank note issue; final recall paragraphs before Bibliography; Opening facts (February 1969 oil sale); discussion of Decree 48/1968; final paragraphs on absence of official conversion and prohibited substitution

Source access and limitations

Not a complete origin, lifespan or current-status audit.

Limits: Publisher is a legal transcription site.

Supported C1589

1967decree retained Nigerianmoney; January1968replacement establishes Biafran monetarysuccession; actual1969oil obligation denominated in Biafranpounds independently establishes contractualidentity.

Peter Symes · Peter Symes, The Bank Notes of Biafra, IBNS Journal 36(4), 1997, updated edition reproduced on Biafran.org Citation S713 · Open source ↗

Attributed article beginning below the page introduction; The Bank of Biafra; The first Republic of Biafra Bank note issue; final recall paragraphs before Bibliography; Opening facts (February 1969 oil sale); discussion of Decree 48/1968; final paragraphs on absence of official conversion and prohibited substitution

Source access and limitations

Not a complete origin, lifespan or current-status audit.

Supreme Court of Nigeria · Chief A.N. Onyiuke III v. G.E. Okeke, SC.430/1974, Supreme Court of Nigeria, 5 March 1976 Citation S708 · Open source ↗

Attributed article beginning below the page introduction; The Bank of Biafra; The first Republic of Biafra Bank note issue; final recall paragraphs before Bibliography; Opening facts (February 1969 oil sale); discussion of Decree 48/1968; final paragraphs on absence of official conversion and prohibited substitution

Source access and limitations

Not a complete origin, lifespan or current-status audit.

Limits: Publisher is a legal transcription site.

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