British West African pound

The West African pound (West African pound) was a currency that was created by the British colonial power in 1907, on the British West Africa and temporarily taken over by the independent state of Liberia. The West African pound was later replaced by the currencies of the then newly independent states. It corresponded to one pound sterling.

History

The West African pound was in the then British areas of the present states of Nigeria, Ghana (then Gold Coast), Sierra Leone and Gambia. From 1912, the currency was issued by the West African Currency Board. Liberia replaced - although no British colony - its own currency Liberian Dollar in 1907 by the West African pound. 1943, in turn replaced the Liberians the West African pound by the U.S. dollar. The British part of Cameroon adopted the currency in 1916, after the area had become British in the African theater of World War I through the early defeat of the Germans.

Denominations

Coins were issued in denominations of 1/10, ½, 1, 3 and 6 as well as Penny 1 and 2 shillings. Notes there were in the 1 -, 2 -, 5 -, 10 -, 20 - and 100 -shilling units and as 1 - and 5- pound notes.

Abolition of the West African pound

Between 1958 and 1968, the West African pound was abolished in the then independent African States and replaced with their own currencies:

Sources and links

• Monetary Institutions And Under Development: History And Prescriptions For Africa (in English)
• List of all coins British West Africa, mainly with image

• Economy (Ghana)
• Economy (Liberia)
• Economy (Sierra Leone)
• Economics (the Gambia )
• Economy (Nigeria )
• Economy (Cameroon)
• Historical Currency Unit ( Africa)