Biafra by a governor and four directors; the first governor, who signed on bank notes, was Sylvester Ugoh. A second decree, "Decree No. 4 of 1967", modified the Banking Act of the Federal Republic of Nigeria for the Republic of Biafra. The bank was first located in Enugu, but due to the ongoing war, it was relocated several times. Biafra attempted to finance the war through foreign exchange. After Nigeria announced their currency would no longer be legal tender (to make way for a new currency), this effort increased. After the announcement, tons of Nigerian bank notes were transported in an
Bight of Biafra Guinea (Bioko Island and Rio Muni), and Gabon (northern coast). The Bight of Biafra accounted for 13% (1.6 million) of the total number of slaves exported from the Western African coast. The Bight of Benin to the west accounted for 17% while Central Africa to the south accounted for 48%. By the middle of the eighteenth century, Bonny had emerged as the major slave trading port on the Bight of Biafra outpacing the earlier dominant slave ports at Elem Kalabari (also known then as New Calabar) and Old Calabar. These 3 ports together accounted for over 90% of the slave