In 1970 after the war the Nigerian government generously 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

best post out of the best "wink"

propaganda at it best, igbo been business men have so much money in the bank before the war, after the war, whether u have equivalent or more than the aforementioned u will be given 20pounds just like given every igbo 20naira after all they have save in Nigeria bank, awolOwo took THE balance to buy shares in different company, due to they didn't laboured for it yorubas squandered the fund,

aribisala0:
[s]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[/s]

In reverse psychology when you are guilty of a something or perpetrated by your own, you always try to twist history to justify that evil. This is what Afonjas are known for....twisting every factual history with gross, mischievous and wicked propaganda.

JUSTICE4Nigeria:
propaganda at it best, igbo been business men have so much money in the bank before the war, after the war, whether u have equivalent or more than the aforementioned u will be given 20pounds just like given every igbo 20naira after all they have save in Nigeria bank, awolOwo took THE balance to buy shares in different company, due to they didn't laboured for it yorubas squandered the fund,

Again you must be Young

Which bank>

What were the names of the banks that existed in Nigeria? Do not lie to Yourself.

There were two main Banks Barclays Bank which became Union Bank and Standard Bank which became Firstbank. In the whole of Nigeria there were not up to 50 branches. Barclays was a British Bank until it was nationalized to Union Bank.

One question I always ask folk like you .

WHAT WOULD HAVE HAPPENED IF BIAFRA SUCCEEDED. Were you going to come back to claim your so called money.

The next question is this

I HAVE NOT COME ACROSS ONE IJAW EFIK IBIBIO etc man who claimed to have lost money in the banks

Did Nigeria make any law to seize money in banks?

The truth is those who had proof they had money got it while many typical liars claimed to have lost their documents. Even if that were true . DID THE NIGERIAN GOVERNMENT TAKE THAT MONEY?


The first law about taking money in dormant accounts EVER in Nigeria was debated this year.

So even if they lost money they lost money to the BANKS not the government

Finally the truth is Biafrans knew they were NEVER COMING back most withdrew their money and changed it for the Biafran pounds and Ojukwu used their moneyto buy weapons.Nigeria reacted by changing their currency.

It would be a different thing if you said Biafrans came with old Nigerian money.But the bank account story is something a young person who did not know Nigeria in the 60s or 70s would say.

What cannot be escaped is the question

If these folk had money in banks

WHO TOOK IT.

Show us one Newspaper clipping or legislation that empowered GOVERNMENT to take anyone's money

liberalsinnerx:


In reverse psychology when you are guilty of a something or perpetrated by your own, you always try twist history to justify that evil. This is what Afonjas are known for....twisting every factual history with gross, mischievous and wicked propaganda.

I have many photos. Too

Op I respect you so much but you have to be very fair to Igbos or Biafrans, Igbos lost everything due to that war and the Federal Government promise to rehabilitate Biafra land but could not do anything except that £20 not minding how much you have in ur bank account.
It is from that money that we (those who are privileged to receive it) started our whole life again and today SE is competing with with other regions that sees no war.

Op just be very fair to Igbos.


Thanks.

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

Igbos are still paying reparation in kind for starting that war

achi4u:
Op I respect you so much but you have to be very fair to Igbos or Biafrans, Igbos lost everything due to that war and the Federal Government promise to rehabilitate Biafra land but could not do anything except that £20 not minding how much you have in ur bank account.
It is from that money that we (those who are privileged to receive it) started our whole life again and today SE is competing with with other regions that sees no war.

Op just be very fair to Igbos.


Thanks.

I am very fair to all concerned.

You distort history with that kind of fictitious narrative.

Yes it was a bad war but why must everything be lies.

Your people din not suffer abandon property in Lagos.Many got their property back.Some got their rent collected and delivered to them intact. They were welcomed back into Lagos with open arms. The truth is Yorubas could have been hostile and uncooperative especially in Lagos.They were not.
Igbos did not lose everything that is just fiction. Why must you tell all these lies. I don't know how old you were at the end of the war. Awo put in a lot of money into ACB. A man called Ukpabi Asika was given a lot of resources too .The other thing to bear in mind is Yoruba men typically are not traders and so the trading sector was open with little competition for those into trading. Those that were teachers got jobs all over the SW.

That £20 that you try to make look small was when a loaf of bread was 1 penny
Do you know there was NOTHING like a £20 note

The HIGHEST NOTE WAS £5
In today's terms it is 200000 .It is not a lot but for goverment to pay it out after a war is not easy.

What has government done for IDPs in the NE?

It shall never be well with Nigeria and all their supports against the people of Biafra. My parents, their relatives nuclear and extended, gathered all their money and gave one man, who owns a bank account came back with only 20 pounds. And you're here saying rubbish.
Fg did not give everyone money. They gathered money and put them into an account, and 20 pounds would be given to the account owner.
All these people do everyday is twist history to paint a favourable picture.
Amadioha ga egbu unu ncha!

Show us one newspaper article or any book written anywhere to back up all these silly stories

Was there a decree enacted.How did they identify Igbo accounts?
What about Ijaws and Ibibios?

Are we to believe that Igbos from IKa and Delta were spared as were Ikwerres who have similar names? or they did not have bank accounts?
The truth is most folk who had money fled with it and gave it to Ojukwu in exchange for Biafra pounds it was BAD MARKET
One of the most difficult thing to do is to admit personal foolishness especially to your children so what do you do blame others.
Blame Awo. Blame Yoruba.

The truth is you INVESTED your wealth in the Biafran pound and A superior mind defeated that strartegy

aribisala0:
I am very fair to all concerned.

You distort history with that kind of fictitious narrative.

Yes it was a bad war but why must everything be lies.

Your people din not suffer abandon property in Lagos.Many got their property back.Some got their rent collected and delivered to them intact. They were welcomed back into Lagos with open arms. The truth is Yorubas could have been hostile and uncooperative especially in Lagos.They were not.
Igbos did not lose everything that is just fiction. Why must you tell all these lies. I don't know how old you were at the end of the war. Awo put in a lot of money into ACB. A man called Ukpabi Asika was given a lot of resources too .The other thing to bear in mind is Yoruba men typically are not traders and so the trading sector was open with little competition for those into trading. Those that were teachers got jobs all over the SW.

That £20 that you try to make look small was when a loaf of bread was 1 penny
Do you know there was NOTHING like a £20 note

The HIGHEST NOTE WAS £5
In today's terms it is 200000 .It is not a lot but for goverment to pay it out after a war is not easy.

What has government done for IDPs in the NE?

You are insulting our intelligence with this nonsense.
My last post on this is, people lodged money into banks with hope of getting the equivalent, but was given a paltry of 20 pounds. My parents were victims, they told me that people contributed money across the village, but was disappointed when 20 pounds was given to them. Now answer me how much can 30 persons get from 20pounds? What ratio will you use to share it?
What happened? My parent forsake the money to the account owner, went home empty handed ,stared from the beginning and you are here .making conjectures. Why don't you go and ask people who are truly affected about their story, instead of you coming on nairaland to incur generational curses!

prodigy24:

You are insulting our intelligence with this nonsense.
My last post on this is, people lodged money into banks with hope of getting the equivalent, but was given a paltry of 20 pounds. My parents were victims, they told me that people contributed money across the village, but was disappointed when 20 pounds was given to them. Now answer me how much can 30 persons get from 20pounds? What ratio will you use to share it?
What happened? My parent forsake the money to the account owner, went home empty handed ,stared from the beginning and you are here .making conjectures. Why don't you go and ask people who are truly affected about their story, instead of you coming on nairaland to incur generational curses!

Factually do you have aa shred of evidence to back this claim?

It simply is not true. Many people may have CLAIMED they opened accounts. Have you got evidence of those who had papers and were denied

More importantly what you fail to tell us is assuming your claim is true what happened to the money.

Was their ever any legislation empowering government to take such money or did the banks benefit

Were Ikwerres affected ? Why not how not?

What about so called DElta Igbos?

Surely such a decree or law must have been gazetted
Surely it must have made it into ONE NEWSPAPER article somewhere ?

What was the size of Bank deposits in Nigeria in total. Surely there must be some evidence of something.



Did the Nigerian government confiscate the money? By decree or what mechanism?

Our laws are not secret!!
The banks were not government owned in fact one was British and the other partly British. They could not hand over money without a decree or gazette

aribisala0:

Again you must be Young

Which bank>

What were the names of the banks that existed in Nigeria? Do not lie to Yourself.

There were two main Banks Barclays Bank which became Union Bank and Standard Bank which became Firstbank. In the whole of Nigeria there were not up to 50 branches. Barclays was a British Bank until it was nationalized to Union Bank.

One question I always ask folk like you .

WHAT WOULD HAVE HAPPENED IF BIAFRA SUCCEEDED. Were you going to come back to claim your so called money.

The next question is this

I HAVE NOT COME ACROSS ONE IJAW EFIK IBIBIO etc man who claimed to have lost money in the banks

Did Nigeria make any law to seize money in banks?

The truth is those who had proof they had money got it while many typical liars claimed to have lost their documents. Even if that were true . DID THE NIGERIAN GOVERNMENT TAKE THAT MONEY?


The first law about taking money in dormant accounts EVER in Nigeria was debated this year.

So even if they lost money they lost money to the BANKS not the government

Finally the truth is Biafrans knew they were NEVER COMING back most withdrew their money and changed it for the Biafran pounds and Ojukwu used their moneyto buy weapons.Nigeria reacted by changing their currency.

It would be a different thing if you said Biafrans came with old Nigerian money.But the bank account story is something a young person who did not know Nigeria in the 60s or 70s would say.

What cannot be escaped is the question

If these folk had money in banks

WHO TOOK IT.

Show us one Newspaper clipping or legislation that empowered GOVERNMENT to take anyone's money

when it comes to biafra issue u can denie your parents, Nigeria that killed, massacred unarmed civilians, committed genocide, and u think converting biafrans wealth to theirs is an issue? u need more cerebral than I thought,
read this from the horses mouth


And the case of the money they said was not given back to them, you know during the war, all the pounds were looted, they printed Biafran currency notes, which they circulated, at the close of the war, some people wanted their Biafran notes to be exchanged for them. Of course I couldn’t do that, if I did that, the whole country would be BANKRUPT. We didn’t know about Biafran notes and we didn’t know on what basis they printed them, so we refused the Biafran note, but I laid down the principle that all those who had savings in the banks on the eve of the declaration of the Biafran war, would get their money back if they could satisfy us that they had the money there. Unfortunately, all the banks’s books had been burnt, and many of the people who had savings there didn’t have their saving books or their last statement of account, so a panel had to be set up.



I didn’t take part in setting up the panel, it was done by the Central Bank and the pertinent officials of the Ministry of Finance, to look into the matter, and they went carefully into the matter, they took some months to do so, and then made some recommendation which I approved. Go to the archives, all I did was approve, I didn’t write anything more than that, I don’t even remember the name of any of them who took part. So I did everything in this world to assist our Igbo brothers and sisters during and after the war.

And anyone who goes back to look at my broadcast in August 1967, which dealt with post-war reconstruction would see what I said there.
MEANING, If they had change the money the country will bankrupt, hahahahahah, so igbos hold the economy of Nigeria since 1808,lol, AWOLOWO SAID IT NOT ME OOO ,

JUSTICE4Nigeria:
when it comes to biafra issue u can denie your parents, Nigeria that killed, massacred unarmed civilians, committed genocide, and u think converting biafrans wealth to theirs is an issue? u need more cerebral than I thought,

This is speculation

Do you have proof

Even

One Newspaper article from anywhere in the world?

prodigy24:

You are insulting our intelligence with this nonsense.
My last post on this is, people lodged money into banks with hope of getting the equivalent, but was given a paltry of 20 pounds. My parents were victims, they told me that people contributed money across the village, but was disappointed when 20 pounds was given to them. Now answer me how much can 30 persons get from 20pounds? What ratio will you use to share it?
What happened? My parent forsake the money to the account owner, went home empty handed ,stared from the beginning and you are here .making conjectures. Why don't you go and ask people who are truly affected about their story, instead of you coming on nairaland to incur generational curses!

People counted money FOR WHAT?

contributed FOR WHAT

clearly some people were duped but we must be dispassionate in seeking truth

Why were people contributing
Many of your elites made their money by keeping £20 due to others

That is typical of AFricans especially in an era when There were not up to 100 bank branches in the whole country

aribisala0:

Factually do you have aa shred of evidence to back this claim?

It simply is not true. Many people may have CLAIMED they opened accounts. Have you got evidence of those who had papers and were denied

More importantly what you fail to tell us is assuming your claim is true what happened to the money.

Was their ever any legislation empowering government to take such money or did the banks benefit

Were Ikwerres affected ? Why not how not?

What about so called DElta Igbos?

Surely such a decree or law must have been gazetted
Surely it must have made it into ONE NEWSPAPER article somewhere ?

What was the size of Bank deposits in Nigeria in total. Surely there must be some evidence of something.



Did the Nigerian government confiscate the money? By decree or what mechanism?

Our laws are not secret!!

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?

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?

Go and chat with your father at home .You have no manners

aribisala0:


This is speculation

Do you have proof

Even

One Newspaper article from anywhere in the world?

I give up on u, I have stoop, enough

liberalsinnerx:


In reverse psychology when you are guilty of a something or perpetrated by your own, you always try twist history to justify that evil. This is what Afonjas are known for....twisting every factual history with gross, mischievous and wicked propaganda.

Whenever an issue is raised, try to use your brain only if your cerebrospinal fluid hasn't missed with kanu's urine.

Michael004:
Whenever an issue is raised, try to use your brain only if your cerebrospinal fluid hasn't missed with kanu's urine.

kanu urine is better as ur brain fluid cos yours is dried up

One day a child will realise Father Christmaa is not real.

One day you will realise the £20 story is another of the lies your elders tell you

You forget Ojukwu looted teh banks in the East and used the money to buy arms.Do you not think that some of that was YOUR MONEY?

So you were planning to come back to Nigeria after Biafra must have beeen achieved to claim your treasure.

WITH NO DOCUMENTS?


Surely even if the story were true does it not make HISTORICAL SENSE

That your parents would have preserved their bank books



Today NOT ONE person can come forward to say this is my bank book and I was denied my money


NOT ONE


THINK!!

prodigy24:

You are insulting our intelligence with this nonsense.
My last post on this is, people lodged money into banks with hope of getting the equivalent, but was given a paltry of 20 pounds. My parents were victims, they told me that people contributed money across the village, but was disappointed when 20 pounds was given to them. Now answer me how much can 30 persons get from 20pounds? What ratio will you use to share it?
What happened? My parent forsake the money to the account owner, went home empty handed ,stared from the beginning and you are here .making conjectures. Why don't you go and ask people who are truly affected about their story, instead of you coming on nairaland to incur generational curses!

Your parents are blatant lair, and I can say it to their faces. Are your parent trying to say only 20pounds was given to your entire village. You parents must be a pathetic lair. Everyone knows 20ponds was given to individuals then. Stop spewing lies here.

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?

You that know the history of the war, oya come and write your own article on it.

JUSTICE4Nigeria:
kanu urine is better as ur brain fluid cos yours is dried up

I know it is better when it comes to pig. And you think I am surprised that you lick his shoe?

So, what is this?
Rabbish!

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

who is the simian jester

So who is this simian jester

my last comment, depression kills, it can delude u into typing rubbish about a tribe that don't give a dime about u

His 20.00 pounds flat payment to account holders of banks after the civil war was not a free gift to every adult Igbo person but rather a paltry compensation to those who can prove they had account before the war break out.

Any body who is comparing Biafra with what is happening in Northeast today is like comparing apples and oranges.
Nigeria is not at war with NE.FACT!

Great educating thread.


Followed.

JUSTICE4Nigeria:
propaganda at it best, igbo been business men have so much money in the bank before the war, after the war, whether u have equivalent or more than the aforementioned u will be given 20pounds just like given every igbo 20naira after all they have save in Nigeria bank, awolOwo took THE balance to buy shares in different company, due to they didn't laboured for it yorubas squandered the fund,

So they left their monies in Nigeria banks when they had years to prepare for war or months to return to home on the order ojukwu.

you guys caused us 200 billion naira and sabotaged the country and we have not recovered since.