Re: BIAFRA TWENTY POUND LIE BUSTED by aribisala0(m): 5:31pm On Nov 02, 2017 |
aribisala0: When Ojukwu created the Biafran pound. Did he share money to the public?
NO
People gave up something in Exchange. What was it ?
Fact is people exchanged their money for Biafran pounds and were effectively scammed by Ojukwu 4 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by aribisala0(m): 5:32pm On Nov 02, 2017 |
And you expect the Nigerian government to buy back Biafran pounds at 1:1 Are you not funny 13 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by GoldNiagara(m): 1:58am On Nov 03, 2017 |
mpianya39:
Reminds me of my award winning poem, sweet scarification! Ota digbolugi Lara! Eleribu omo ale jati jati! |
Re: BIAFRA TWENTY POUND LIE BUSTED by Proudlyngwa(m): 6:40am On Nov 03, 2017 |
JUSTICE4Nigeria: is either u plain stupid or choose to be cos it concern biafra, u didn't even know the history of biafra war, and u are here typing rubbish, I need to take u down to nursery school now! A B C D .......AFTER THAT U CAN NOW TRY THIS ASSESSMENT, WHAT IS THE CAUSE OF BIAFRA WAR? Ojukwu and Gowons pride |
Re: BIAFRA TWENTY POUND LIE BUSTED by aribisala0(m): 10:04am On Nov 03, 2017 |
So in Summary
Many Igbos went back to the East and exchanged their Nigerian notes for Biafran pounds. Ojukwu took that money abroad as well as what he looted from banks in the East to buy arms and pay for propaganda. In the end the war was lost and he fled while the victims were left carrying worthless Biafran pounds. A bit like an MMM scheme . The value of the Biafran pound varied directly with the outcome of the war and those who bought were in effect investing in the war.It turned out to be a bad investment (BAD MAKATE). Who is to blame?
The Nigerian Government generously gave those with biafran pounds20 Nigerian pounds per person no matter how much they had. Understandably people felt bitter but who was to blame.
The story has been twisted to say it was money from bank accounts seized but this is ABSOLUTE NONSENSE. Some people claimed they lost their papers and could not get their money back.That is possible but had NOTHING TO DO WITH GOVERNMENT.
That was a matter purely BETWEEN THEM AND THEIR BANKERS . Government had no authority over that relationship 9 Likes 4 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by diadem10: 11:46am On Nov 03, 2017 |
Obi1kenobi:
I've examined this thread and it begs the question: Which myth or lie exactly do you think you have "busted" here? I've been reading your post thus far and it's seriously giving me headache. Who asked you folks to exchange your money for worthless biafra pounds? Nigeria FG wasn't the one that scammed you but Ojukwu. Was it not the same folks of yours that spent millions on Biafran passports from Massbob's uwazuike? How is then Nigeria's fault for your folks' foolishness? The fact that Nigeria FG decided to replace these worthless biafra pounds with 20 pounds should be meant with appreciation because your real money were never with Nigeria, your folks already exchanged them with Ojukwu for unrecognised worthless biafra pounds! Your people ought to have gone to Ojukwu to demand back your pounds but Nigeria decided to help you to replace these worthless pounds and what do you show in return? Exactly one of my problem with the Ibos because I happened to have a nature that get easily irritated with ingrates and manipulation. 13 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by PHIPEX(m): 1:12pm On Nov 03, 2017 |
Below is a report by NYtimes in 1987 about the civil war, every Igbo man literary started life afresh with 20 pounds. The OP should give honours to the Igbos for coming this far Few Traces of the Civil War Linger in Biafra By JAMES BROOKE, Special to the New York Times Published: July 14, 1987 ENUGU, Nigeria— The Biafra babies are adults now.
It has been 20 years since Nigerian soldiers moved to retake the nation's oil-producing east, which had seceded five weeks earlier as the independent Republic of Biafra.
After 20 months of fighting, the secessionists threw down their arms and melted into the bush. By the end, Nigeria's civil war - initially an obscure tribal conflict - had moved to the stage of world public opinion.
In one of the first televised wars, millions were moved by images of the Biafra babies, fragile skeletons with distended bellies, who succumbed by the thousands to a man-made famine. Experts now say the children who survived appear to have grown to healthy adulthood, and Nigeria's east bears few traces of the civil war that killed an estimated one million people.
On a recent Saturday afternoon, the market in Owerri was filled with women carrying robust babies strapped to their backs. A far cry from the city's final, famine-racked days, Owerri's market stalls were loaded with three-foot-high pyramids of freshly baked bread.
At Umuahia, at the National War Museum, tourists strolled through a photo exhibition on Biafra. Twenty years ago, the galleries served as the underground studios of the Voice of Biafra, which were used by the rebel leadership to exhort Ibo tribesmen to resist.
Parked outside the museum are several Biafran ''Red Devils'' - armored cars improvised by the rebels from bulldozers and sheets of welded steel. Green tendrils of undergrowth curled through the treads, which long ago had frozen with rust. A Graveyard for Aviators
In Uli, buses and brightly painted wagons sped over a section of Route A-6, where, at the height of the war, as many as 40 cargo planes landed each night, bringing arms and food to the encircled Biafrans.
Aside from fragments of a Super Constellation aircraft rusting in a cornfield, the only hint of the road's earlier role was a rural establishment named ''Airport Hotel.''
Near the hotel, the sound of voices singing hymns floated through the open windows of St. Teresa's Church. But shoulder-high brush covered the church's once neatly tended graveyards, which hold the remains of two dozen Biafran and foreign aviators killed during the airlift. Biafra Became a Taboo Word
Shortly after the war ended in January 1970, the graveyard was bulldozed by the Nigerian military seeking to erase physical reminders of the rebellion. Today, the region is intensely farmed. But local peasants cultivate only up to the invisible borders of the old burying grounds.
In the post-war era, Biafra became a taboo word. The Bight of Biafra, a stretch of Nigeria's Atlantic coast, was renamed the Bight of Bonny. Biafra Light, the oil pumped from this area, is now called Bonny Light.
In 1967, the Ibos broke away from Nigeria largely because they feared massacres at the hands of their ethnic rivals - the Hausa in the North and Yoruba in the South. Though all three groups are Nigerian, they are about as similar to one another as the French are to the Germans or the Italians. 'No Victor and No Vanquished'
In 1966, anti-Ibo rioting, largely by Hausas, killed about 30,000 Ibos and created about a million Ibo refugees. During the ensuing civil war, it was fear of renewed killing that kept many Ibos fighting.
But after Biafra's collapse, the massacres did not take place. Yakubu Gowon, then Nigeria's President, declared a policy of ''no victor and no vanquished.''
Oil also served as an ointment for national wounds. In the 1970's, Nigeria rode an oil boom and national income increased fivefold. A Reception of Embraces
''I must say Nigeria has done a good job,'' said Benjamin Odogwu, an Ibo who served as Biafra's Director of Military Intelligence. ''The war was fought in all viciousness. We were surprised by the reception, the embraces.''
In 1982, after 13 years in exile in the Ivory Coast, Chukwuemeka Odumegwu Ojukwu, Biafra's bearded leader, returned to Nigeria. He was welcomed at the airport here by an enthusiastic crowd of a quarter million people.
After an unsuccessful fling in politics, Mr. Ojukwu, 54 years old, has settled into the quiet life of a successful Lagos businessman. A Legacy of Discrimination
''Ojukwu laughs last,'' read a recent report chronicling a current, more prosaic, preoccupation of the one-time rebel. On July 6, a Lagos court returned to Mr. Ojukwu the family mansion that the state had seized in the war.
While Mr. Ojukwu, the Oxford-educated son of a millionaire, has landed on his feet in Lagos, many Ibos complain that they labor under a legacy of discrimination stemming from the civil war.
In this nation ruled by the military, it was only this year that an Ibo reached the rank of a general. Although Ibos account for about a quarter of Nigeria's 100 million people, there is only one Ibo on Nigeria's supreme political organ, the 19-man Armed Forces Ruling Council. Currency Became Valueless
During the war, many Ibos lost their fortunes when the Federal Government switched the currency in circulation, declaring the old coins and bills valueless. When peace came, Ibos were allowed to exchange a maximum of 20 Biafran pounds for 20 Nigerian pounds.
Two years later, the Government embarked on a campaign that forced many foreign companies here to take on majority Nigerian ownership. Since the Ibos were destitute, control of the companies largely went to Hausa and Yorubas.
''The east is not faring well after 20 years,'' said Arthur A. Nwankwo, a book publisher from Enugu, ticking off on his fingers a list of development projects that have gone to other regions of Nigeria. A Historical Curiosity
Mr. Nwankwo maintains a ''Biafran section'' in his publishing house, which he said is putting into print an increasing number of civil war novels and memoirs.
About half of all Nigerians were born since the war broke out. For many, Biafra is nearly a historical curiosity.
''Some people have forgotten their losses, some people haven't,'' said Mokwugo Okoye, who was once a member of Biafra's Consultative Assembly. ''There are now more pressing issues - like the economy - not what happened 20 years ago.''
One enduring mystery of the period is the impact that the severe malnutrition had on a generation of Biafran children. Cities Double in Size
In ''The Brutality of Nations,'' a book on Biafra published in New York this year, Dan Jacobs, the author, estimates that at the war's end, 31 percent of Biafran children under the age of 5 - or 480,000 children - suffered from severe malnutrition.
''The people I have seen from that particular period are in secondary school and university and have not suffered any permanent injury,'' said H. I. Uzoewulu, medical director of St. Martin's Hospital here. Disabled War Veterans
But reminders of the war occasionally intrude through eastern Nigeria's surface normality.
On the westbound shoulder of Route A-232, a modern four-lane expressway that links Enugu and Onitsha, a group of eight men in wheelchairs gather every day in the shade of a palm frond.
Passing the day chatting or telling war stories, these disabled Biafran war veterans wait for passing drivers to slow their cars and to throw coins or bills out their windows.
''The Government regards us as outcasts,'' said Chuks Usim, a former Biafran corporal, as traffic sped by. Mr. Usim said his group is trying to raise money for new wheelchair tires.
On a recent Sunday afternoon, cars filled with families stopped frequently. But some days go by, Mr. Usim said, when no one stops.
3 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by aribisala0(m): 2:39pm On Nov 03, 2017 |
PHIPEX: Below is a report by NYtimes in 1987 about the civil war, every Igbo man literary started life afresh with 20 pounds. The OP should give honours to the Igbos for coming this far
So you accept that every Igbo man was given 20 pounds? What you have not accepted is they were given twenty pounds for Biafran pounds that they had bought with Nigerian pounds That Ojukwu used their money to prosecute the war leaving them with toilet roll called Biafran pounds and that Nigeria generously bailed them oul That 20 pounds today would be 200000 NairaMoney in bank accounts was not affected by the currency switch just that which Ojukwu looted from banks in the EastI hope the Igbos would be willing to contribute in that same spirit to the people of the NE zone 7 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by PHIPEX(m): 5:01pm On Nov 03, 2017 |
aribisala0:
So you accept that every Igbo man was given 20 pounds? What you have not accepted is they were given twenty pounds for Biafran pounds that they had bought with Nigerian pounds That Ojukwu used their money to prosecute the war leaving them with toilet roll called Biafran pounds and that Nigeria generously bailed them oul
That 20 pounds today would be 200000 Naira Money in bank accounts was not affected by the currency switch just that which Ojukwu looted from banks in the East
I hope the Igbos would be willing to contribute in that same spirit to the people of the NE zone
Go back to the articles above and also read Awolowo's interview and you'll understand that there was a double approach. 1. Those with evidence of bank Account got a maximum of 20pound. 2. Those with Biafra pounds also got a maximum of 20pounds. This is enough to show u that virtually every Igbo man got same amount. |
Re: BIAFRA TWENTY POUND LIE BUSTED by diadem10: 5:51pm On Nov 03, 2017 |
PHIPEX: Go back to the articles above and also read Awolowo's interview and you'll understand that there was a double approach.
1. Those with evidence of bank Account got a maximum of 20pound. 2. Those with Biafra pounds also got a maximum of 20pounds.
This is enough to show u that virtually every Igbo man got same amount. No where was it stated! The article you quoted only talked about the exchange of biafra pounds for 20 pounds! Stop this manipulation already. 3 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by TheKingdom: 5:56pm On Nov 03, 2017 |
diadem10:
I've been reading your post thus far and it's seriously giving me headache.
Who asked you folks to exchange your money for worthless biafra pounds? Nigeria FG wasn't the one that scammed you but Ojukwu. Was it not the same folks of yours that spent millions on Biafran passports from Massbob's uwazuike? How is then Nigeria's fault for your folks' foolishness?
The fact that Nigeria FG decided to replace these worthless biafra pounds with 20 pounds should be meant with appreciation because your real money were never with Nigeria, your folks already exchanged them with Ojukwu for unrecognised worthless biafra pounds! Your people ought to have gone to Ojukwu to demand back your pounds but Nigeria decided to help you to replace these worthless pounds and what do you show in return?
Exactly one of my problem with the Ibos because I happened to have a nature that get easily irritated with ingrates and manipulation. Everyone writing grammer on meaningless things, meanwhile look at the Naira today, and the very backwards Giant of Africa. WHat is your stance on those issues affecting una today? Is it to continue praying for the British Corporation of the Nigger Area or doing what you are meant to have since done? |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 6:00pm On Nov 03, 2017 |
aribisala0:
So you accept that every Igbo man was given 20 pounds? What you have not accepted is they were given twenty pounds for Biafran pounds that they had bought with Nigerian pounds That Ojukwu used their money to prosecute the war leaving them with toilet roll called Biafran pounds and that Nigeria generously bailed them oul
That 20 pounds today would be 200000 Naira Money in bank accounts was not affected by the currency switch just that which Ojukwu looted from banks in the East
I hope the Igbos would be willing to contribute in that same spirit to the people of the NE zone
No, every Igbo man was not paid £20. Not even close. And no, even then, £20 was not a lot of money and I don't know how you came about your exchange rate claims. School certificate holders in clerical positions in the civil service and confirmed labourers earned between £16 to £20 a month at the time. University graduates in the civil service earned as much as £72 a month. Nigeria's GDP per capita in 1970 was US$224 which was close to 350 Nigeria pounds. You could not open any kind of business beyond petty trading and petty subsistence farming with £20. Nobody who suffered devastation for 3 years could have done anything meaningful in setting himself and his family up with £20. The best it could do was pay the cost of moving from the destroyed East to Lagos, Kano or wherever to go and actually hustle for real money. And quit with the nonsense about Ojukwu "looting" anybody's money. He was entrusted with a mandate by his people to prosecute a war and war costs money. Ojukwu despite being the heir to one of the richest men in Nigeria hardly paraded around with stupendous wealth. Most of his fellow military officers at the time of lower rank and education than him ended up far richer than him and they still parade around the country today flaunting their wealth. |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 6:05pm On Nov 03, 2017 |
diadem10:
I've been reading your post thus far and it's seriously giving me headache.
Who asked you folks to exchange your money for worthless biafra pounds? Nigeria FG wasn't the one that scammed you but Ojukwu. Was it not the same folks of yours that spent millions on Biafran passports from Massbob's uwazuike? How is then Nigeria's fault for your folks' foolishness?
The fact that Nigeria FG decided to replace these worthless biafra pounds with 20 pounds should be meant with appreciation because your real money were never with Nigeria, your folks already exchanged them with Ojukwu for unrecognised worthless biafra pounds! Your people ought to have gone to Ojukwu to demand back your pounds but Nigeria decided to help you to replace these worthless pounds and what do you show in return?
Exactly one of my problem with the Ibos because I happened to have a nature that get easily irritated with ingrates and manipulation. You don't know where they sell Sniper, so you can end that "headache" forever, abi? Who were the folks that spent "millions" on Biafran passport? Better carry your seething hatred and ignorance to whoever is willing to indulge you. 1 Like |
Re: BIAFRA TWENTY POUND LIE BUSTED by GoldNiagara(m): 6:09pm On Nov 03, 2017 |
Obi1kenobi:
No, every Igbo man was not paid £20. Not even close.
And no, even then, £20 was not a lot of money and I don't know how you came about your exchange rate claims. School certificate holders in clerical positions in the civil service and confirmed labourers earned between £16 to £20 a month at the time. University graduates in the civil service earned as much as £72 a month. Nigeria's GDP per capita in 1970 was US$224 which was close to 350 Nigeria pounds. You could not open any kind of business beyond petty trading and petty subsistence farming with £20. Nobody who suffered devastation for 3 years could have done anything meaningful in setting himself and his family up with £20. The best it could do was pay the cost of moving from the destroyed East to Lagos, Kano or wherever to go and actually hustle for real money.
And quit with the nonsense about Ojukwu "looting" anybody's money. He was entrusted with a mandate by his people to prosecute a war and war costs money. Ojukwu despite being the heir to one of the richest men in Nigeria hardly paraded around with stupendous wealth. Most of his fellow military officers at the time of lower rank and education than him ended up far richer than him and they still parade around the country today flaunting their wealth. Nice try! Are those banks owed by Federal Government or private organizations? 7 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 6:18pm On Nov 03, 2017 |
PHIPEX: Go back to the articles above and also read Awolowo's interview and you'll understand that there was a double approach.
1. Those with evidence of bank Account got a maximum of 20pound. 2. Those with Biafra pounds also got a maximum of 20pounds.
This is enough to show u that virtually every Igbo man got same amount. 20pounds was given to everyone with bank account with the bankrupted ACB. when a bank goes under due to no fault of government, you don't expect the government to make full payments to accounts holders. This is the standard practice till date. By the way, 20 pounds was a lot of money then (600K) today. It was a huge sacrifice by the FG at the time. 7 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 6:20pm On Nov 03, 2017 |
GoldNiagara:
Nice try! Are those banks owed by Federal Government or private organizatios? What exactly do you think should have been the FG's role after the civil war? Maybe let's start with that first. 1 Like |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 6:22pm On Nov 03, 2017 |
Rotimik:
20pounds was given to everyone with bank account with the bankrupted ACB.
when a bank goes under due to no fault of government, you don't expect the government to make full payments to accounts holders.
This is the standard practice till date.
By the way, 20 pounds was a lot of money then (600K) today. It was a huge sacrifice by the FG at the time. £20 then is not 600k today. It's barely even 1/10th of that today. Where do you guys dig out these lies from? 2 Likes |
Re: BIAFRA TWENTY POUND LIE BUSTED by GoldNiagara(m): 6:25pm On Nov 03, 2017 |
Obi1kenobi:
What exactly do you think should have been the FG's role after the civil war? Maybe let's start with that first. You answer my question first, I think that is the best place to start! 2 Likes |
Re: BIAFRA TWENTY POUND LIE BUSTED by youngTouch(m): 6:56pm On Nov 03, 2017 |
aribisala0: In 1970 after the war the Nigerian government generally gave £20 of Nigerian money to every eligible adult but no one has ever done the math.
Let us assume their were one million of them =£20million Nigerian
We know that the Nigerian pound exchanged for £2 pounds sterling in 1970 so that would be £40 million . What would that be worth today
according to this inflation calculator
https://www.moneysorter.co.uk/calculator_inflation2.html it would be £432612859. Sterling Not sure what sterling is doing these days but @ 475
that is
205491108025 Naira
200 billion
Assuming it was 1 million people that received the money. No one has ever told us how many did but I think it could be double that.
For a country to pay that out immediately after a war of such devastation is a huge feat considering that Nigeria was not even a major oil exporter in1970 and in 1970 oil prices were under $4 which when adjusted for inflation in today's money is $21.
It is a testament to the prudent financial management of Papa Awo who also kept the allocation of East Central state for 3 years and paid it all after the war
But they are not grateful and feel entitled to that payment. What have we done for the NE . Imagine finding 200 billion to give them today when oil prices in real terms are 3 X what they were in 1970
The standard of living was much lower. Let me put it in Perspective our standard of living then, There was no Lagos Ibadan Expressway. No East -West Road. PH to Aba was a single carriage way.The Air assault camp was the main airport in PH Omagwa airport did not exist. There was nothing like presidential jet. Where were the airports? The country was broke with very little compared to today but still gave generously in the spirit or sacrifice and reconciliation
your a disadvantage young person I thought you wanted to end Biafra topics like Seun claimed....now your lie I ng to yourself bringing factory facts...... the moment when Seun would re- amend his own amended rules the better for this team cuz in my opinion....we are one family here and I refuse to believe or subject to what and d way my so called brother want me to think never I don't want to see any secessionist post again related or unrelated.quoting Seun..so that I won't be held accountable when DSS plans to disappear me.... 1 Like |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 7:02pm On Nov 03, 2017 |
diadem10:
I've been reading your post thus far and it's seriously giving me headache.
Who asked you folks to exchange your money for worthless biafra pounds? Nigeria FG wasn't the one that scammed you but Ojukwu. Was it not the same folks of yours that spent millions on Biafran passports from Massbob's uwazuike? How is then Nigeria's fault for your folks' foolishness?
The fact that Nigeria FG decided to replace these worthless biafra pounds with 20 pounds should be meant with appreciation because your real money were never with Nigeria, your folks already exchanged them with Ojukwu for unrecognised worthless biafra pounds! Your people ought to have gone to Ojukwu to demand back your pounds but Nigeria decided to help you to replace these worthless pounds and what do you show in return?
Exactly one of my problem with the Ibos because I happened to have a nature that get easily irritated with ingrates and manipulation. Excellent. 6 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by PHIPEX(m): 7:16pm On Nov 03, 2017 |
diadem10:
No where was it stated! The article you quoted only talked about the exchange of biafra pounds for 20 pounds! Stop this manipulation already. The article talks about only the exchange but I asked you to juxtapose it with Awolowo's interview and see my point 2 valid. Google the interview, it was even posted earlier. 3 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by PHIPEX(m): 7:18pm On Nov 03, 2017 |
Obi1kenobi:
£20 then is not 600k today. It's barely even 1/10th of that today. Where do you guys dig out these lies from? That's wrong, just 3 years ago you could have said it was worth 200k. In 1970, 20 pounds could buy only 80 gallons of fuel in UK. Nigeria pound was almost equal to UK pound so we can say 20 pounds in 1970 was worth only 43500 today. 2 Likes |
Re: BIAFRA TWENTY POUND LIE BUSTED by meccuno: 7:19pm On Nov 03, 2017 |
2 Likes |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 7:24pm On Nov 03, 2017 |
Obi1kenobi:
£20 then is not 600k today. It's barely even 1/10th of that today. Where do you guys dig out these lies from? 1pound will get you a carton of tin milk in 1970. It was a lot of money then. Check the regional and Federal budget in the 60s to 1970, we budget in millions then. The word billion only exist in the imagination. Individual millionaires were hard to find in 1970. It is funny that some people said their grandies told them that they saved millions in 1970 when a brand new car was sold for less than 500 pounds then. Stop trying to justify the 20pounds policy lies you have been told. I grew up at a time we were buying a dozen (12) of tin milk and a dozen of Geisha for N1 naira in the early 80s .At that time N0.75=$1 while N2.00=1pounds sterling. Stop comparing 20pounds of 1970 with 20pounds of 2017. They are not the same. 7 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by meccuno: 7:29pm On Nov 03, 2017 |
Rotimik:
1pound will get you a carton of tin milk in 1970. It was a lot of money then.
Check the regional and Federal budget in the 60s to 1970, we budget in millions then. The word billion only exist in the imagination.
Individual millionaires were hard to find in 1970. It is funny that some people said their grandies told them that they saved millions in 1970 when a brand new car was sold for less than 500 pounds then.
Stop trying to justify the 20pounds policy lies you have been told.
I grew up at a time we were buying a dozen (12) of tin milk and a dozen of Geisha for N1 naira in the early 80s .At that time N0.75=$1 while N2.00=1pounds sterling.
Stop comparing 20pounds of 1970 with 20pounds of 2017. They are not the same. so because you could buy all these means 20 pound is equivalent to 600k? guy fear God na |
Re: BIAFRA TWENTY POUND LIE BUSTED by obaaderemi: 7:35pm On Nov 03, 2017 |
aribisala0: So in Summary
Many Igbos went back to the East and exchanged their Nigerian notes for Biafran pounds. Ojukwu took that money abroad as well as what he looted from banks in the East to buy arms and pay for propaganda. In the end the war was lost and he fled while the victims were left carrying worthless Biafran pounds. A bit like an MMM scheme . The value of the Biafran pound varied directly with the outcome of the war and those who bought were in effect investing in the war.It turned out to be a bad investment (BAD MAKATE). Who is to blame?
The Nigerian Government generously gave those with biafran pounds20 Nigerian pounds per person no matter how much they had. Understandably people felt bitter but who was to blame.
The story has been twisted to say it was money from bank accounts seized but this is ABSOLUTE NONSENSE. Some people claimed they lost their papers and could not get their money back.That is possible but had NOTHING TO DO WITH GOVERNMENT.
That was a matter purely BETWEEN THEM AND THEIR BANKERS . Government had no authority over that relationship Tko 2 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 7:35pm On Nov 03, 2017 |
Obi1kenobi:
I've examined this thread and it begs the question: Which myth or lie exactly do you think you have "busted" here? u That FG seized Igbos money in bank and paid them only a paltry, useless , meaningless 20 pounds. 4 Likes 1 Share |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 7:50pm On Nov 03, 2017 |
Rotimik:
1pound will get you a carton of tin milk in 1970. It was a lot of money then.
Check the regional and Federal budget in the 60s to 1970, we budget in millions then. The word billion only exist in the imagination.
Individual millionaires were hard to find in 1970. It is funny that some people said their grandies told them that they saved millions in 1970 when a brand new car was sold for less than 500 pounds then.
Stop trying to justify the 20pounds policy lies you have been told.
I grew up at a time we were buying a dozen (12) of tin milk and a dozen of Geisha for N1 naira in the early 80s .At that time N0.75=$1 while N2.00=1pounds sterling.
Stop comparing 20pounds of 1970 with 20pounds of 2017. They are not the same. Nigeria's GDP in 1970 was $12.55 billion and GDP per capita was $225 which at the time was over 300 Nigerian pounds. To say £20 then is N600,000 today is bullshiit. Utter horseshiit. A load of twaddle. And nobody ever said £20 in 1970 is the same as £20 in 2017. |
Re: BIAFRA TWENTY POUND LIE BUSTED by Obi1kenobi(m): 7:53pm On Nov 03, 2017 |
Rotimik: u
That FG seized Igbos money in bank and paid them only a paltry, useless , meaningless 20 pounds. Except as I have pointed out before, this is a strawman argument cos I've never heard any Igbo man say "they seized our money in the bank". Maybe you heard a few misinformed Igbos say it, then you extrapolated from those few that this is somehow a consensus opinion. |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 7:54pm On Nov 03, 2017 |
There were only 5 banks at the time.
1. Backlays bank - British
2. Standard bank - British
3. Wemabod bank -Western Region
4.African Continental bank - Eastern Region
5. Bank of the North - Northern Region.
Only those who had savings with ACB lost their savings, because ACB went under due to mass withdrawals from the bank by the Igbos.
Those with savings in other banks with their passbook got all their monies intact. 6 Likes 2 Shares |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 7:58pm On Nov 03, 2017 |
Obi1kenobi:
Nigeria's GDP in 1970 was $12.55 billion and GDP per capita was $225 which at the time was over 300 Nigerian pounds. To say £20 then is N600,000 today is bullshiit. Utter horseshiit. A load of twaddle. And nobody ever said £20 in 1970 is the same as £20 in 2017. I said budget not GDP. they are not the same. Federal budget was not up to a billion pounds in 1970. 3 Likes |
Re: BIAFRA TWENTY POUND LIE BUSTED by Rotimik: 8:06pm On Nov 03, 2017 |
Obi1kenobi:
Nigeria's GDP in 1970 was $12.55 billion and GDP per capita was $225 which at the time was over 300 Nigerian pounds. To say £20 then is N600,000 today is bullshiit. Utter horseshiit. A load of twaddle. And nobody ever said £20 in 1970 is the same as £20 in 2017. The Nigerian pounds was more valuable than the American dollars in 1970. $225 was around 100pounds (Nigerian pounds) in 1970. Your calculation is not correct! 2 Likes 1 Share |