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
Movement for the Actualization of the Sovereign State of Biafra Gandhi. At its inception, MASSOB concentrated on organizing rallies and peaceful protests which culminated in hoisting Biafran flags at different locations in the South East. In recent years, this practice has been reserved mainly for celebrating key dates and events or in commemoration of dead members. MASSOB members embark on protests to protest arrests and killings of its members. In one of these protests, the house of the late Nigerian leader, Nnamdi Azikiwe, was torched. The then Secretary-General of Ohanaeze Ndigbo, Col. Joe Achuzie (rtd) exonerated MASSOB from blame and accused the security agents of "carelessness and irresponsibility." In 2005,