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Why Awolowo Switched Nigerian Pounds To Naira In 1971 - Politics - Nairaland

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Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 8:30am On Jul 05, 2023
Ojukwu had the Nigeria pounds banned in Biafra and had all holders of such to turn it in for his worthless paper money in the form of Biafran pounds that wasn't backed by anything.


As the closing days of the war approached , Ojukwu planned his escape and stole millions of Nigerian pounds earlier confiscated.

When Awolowo saw that the Biafran rogue finance minister could not account for the earlier confiscated Nigerian pound notes, he swiftly went to action to have the Nigerian pounds redesigned to Nigerian Naira.

The switch was to make useless millions of pounds stolen by Ojukwu under his Biafran pounds swap.

So next time you want to blame Awolowo over the £20 saga , remember to hold Ojukwu's estate for your missing money.

2 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by duro4chang(m): 8:32am On Jul 05, 2023
Was it Awolowo it the government?
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by 001Lagos: 8:33am On Jul 05, 2023
Was that the reason why obafemi awolowo commited suicide because his brother MKO abiola denied him president?

2 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by endsarrrs(f): 8:35am On Jul 05, 2023
HitlerWasRight:
Ojukwu had the Nigeria pounds banned in Biafra and had all holders of such to turn it in for his worthless paper money in the form of Biafran pounds that wasn't backed by anything.


As the closing days of the war approached , Ojukwu planned his escape and stole millions of Nigerian pounds earlier confiscated.

When Awolowo saw that the Biafran rogue finance minister could not account for the earlier confiscated Nigerian pound notes, he swiftly went to action to have the Nigerian pounds redesigned to Nigerian Naira.

The switch was to make useless millions of pounds stolen by Ojukwu under his Biafran pounds swap.

So next time you want to blame Awolowo over the £20 saga , remember to hold Ojukwu's estate for your missing money.
Awolo wo was a great man...

5 Likes 1 Share

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 8:36am On Jul 05, 2023
001Lagos:
Was that the reason why obafemi awolowo commited suicide because his brother MKO abiola denied him president?

I have told you that next time you want to shout £20 , go and hold Ojukwu's estate for your grand parents money


Ode

3 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by ratiani6: 8:36am On Jul 05, 2023
Okay. Thanks
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 8:38am On Jul 05, 2023
endsarrrs:


Lol

Immediately Awolowo found out that Ojukwu and his rogue cabinet members had stolen all the Nigerian pounds in circulation in the SE,he set to work to make useless the old Nigerian pounds note

This is the real reason they hate Awolowo .

For Awolowo made rubbish of their war loot.

3 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by 001Lagos: 8:38am On Jul 05, 2023
HitlerWasRight:


I have told you that next time you want to shout £20 , go and hold Ojukwu's estate for your grand parents money


Ode
Obafemi awolowo drank rat poison because MKO abiola didn't allow him become president . That's what you should be concerned about.
😂 😂

1 Like

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by SpatialKing(m): 8:40am On Jul 05, 2023
001Lagos:
Was that the reason why obafemi awolowo commited suicide because his brother MKO abiola denied him president?

I heard he drank rat poison 😂😂
What a useless way to die

3 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 8:42am On Jul 05, 2023
001Lagos:

Obafemi awolowo drank rat poison because MKO abiola didn't allow him become president . That's what you should be concerned about.
😂 😂

Assuming this is true, in the old world ,were honour was worth more than a life, taking the honourable route to death instead of being caught or running away like a bitch ass Ojukwu, was the only option.


Ojukwu ran away with your grandparents' life savings, fleeing in a private jet from a land of starvation , disease and death.

Now that's the legacy of your pathetic hero warrior .

5 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 8:44am On Jul 05, 2023
SpatialKing:


I heard he drank rat poison 😂😂
What a useless way to die

Many honourable nen have chose death by their own terms and in their own hands .

Ojukwu fled with your grandparents money and same Awolowo ,with a simple stroke of the pen, turned all that loot to trash


Awolowo no be Una mate

3 Likes

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by DMerciful(m): 9:41am On Jul 05, 2023
And the naira has been dying since them!
HitlerWasRight:
Ojukwu had the Nigeria pounds banned in Biafra and had all holders of such to turn it in for his worthless paper money in the form of Biafran pounds that wasn't backed by anything.


As the closing days of the war approached , Ojukwu planned his escape and stole millions of Nigerian pounds earlier confiscated.

When Awolowo saw that the Biafran rogue finance minister could not account for the earlier confiscated Nigerian pound notes, he swiftly went to action to have the Nigerian pounds redesigned to Nigerian Naira.

The switch was to make useless millions of pounds stolen by Ojukwu under his Biafran pounds swap.

So next time you want to blame Awolowo over the £20 saga , remember to hold Ojukwu's estate for your missing money.
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by SpatialKing(m): 9:41am On Jul 05, 2023
HitlerWasRight:


Many honourable nen have chose death by their own terms and in their own hands .

Ojukwu fled with your grandparents money and same Awolowo ,with a simple stroke of the pen, turned all that loot to trash


Awolowo no be Una mate

Far better than dieing like a rat 🐀

1 Like 1 Share

Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 9:42am On Jul 05, 2023
DMerciful:
And the naira has been dying since them!

Goes to show that every nonesense we are suffering has its roots in your foolishness
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by HitlerWasRight: 9:43am On Jul 05, 2023
SpatialKing:


Far better than dieing like a rat 🐀

Go and hold Ojukwu's estate for your money .
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by aworatak: 11:20am On Jul 05, 2023
It is clear that the op who i believe was born sometime around 2002 or thereabouts is nothing but an empty vessel that makes the loudest noise.
First of all the Naira was introduced in 1973 not 1971 as you ignorantly stated. Secondly Awolowo was minister of finance between 1967 until 1971, when he was succeeded by Alhaji Aliyu Shehu Shagari who later became the first executive president of Nigeria. The change of Naira was spearheaded by Shagari. The purpose of this clarification is to enlighten the sane one’s on this forum.
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by DMerciful(m): 1:06pm On Jul 05, 2023
You guys threw away the baby with the bath water
HitlerWasRight:


Goes to show that every nonesense we are suffering has its roots in your foolishness
Re: Why Awolowo Switched Nigerian Pounds To Naira In 1971 by Gajagojo: 4:58pm On Jul 05, 2023
HitlerWasRight:
Ojukwu had the Nigeria pounds banned in Biafra and had all holders of such to turn it in for his worthless paper money in the form of Biafran pounds that wasn't backed by anything.


As the closing days of the war approached , Ojukwu planned his escape and stole millions of Nigerian pounds earlier confiscated.

When Awolowo saw that the Biafran rogue finance minister could not account for the earlier confiscated Nigerian pound notes, he swiftly went to action to have the Nigerian pounds redesigned to Nigerian Naira.

The switch was to make useless millions of pounds stolen by Ojukwu under his Biafran pounds swap.

So next time you want to blame Awolowo over the £20 saga , remember to hold Ojukwu's estate for your missing money.

You are ignorant and spreading falsehood

Awolowo had already dealt with that issue by redesigning the Nigerian pound on January 28, 1968. So the currency was changed in the middle of the war and changing to Naira had nothing to do with that.

The Nigerian pound was made up of twenty shillings.
Each shilling was made of 12 pence

As such it was not a DECIMAL currency

The Naira was a Decimal currency made up of 100 Kobo
Bringing Nigeria in line with decimalization and other units like Kilogramme and grammes instead of ounces announce and a few years later we stopped driving on the Left side of the road.
It was nothing to do with Biafra or the old Nigerian pound notes which had already been changed during the war

In fact the policy was very successful because Awolowo only informed Gowon at the last minute

Junior officers like Buhari would have seen how successful that 1968 policy was when they is why he tried it twice without fully understanding why it was a success

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