West African pound
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The West African pound was a currency used in several West African countries, all British colonies, protectorates and mandate territories. It was equal to one pound sterling. It has been replaced by other currencies.
[edit] History
The West African pound was introduced in 1907 for circulation in Nigeria, the Gold Coast (now Ghana), Sierra Leone and the Gambia. From 1912, it was issued by the West African Currency Board. Liberia also adopted the currency in 1907, replacing the Liberian Dollar, despite the fact it was not served by the West African Currency Board. Liberia changed to the U.S. dollar in 1943. The British section of Cameroon adopted the West African currency in 1916 after it was taken from Germany.
During the period 1958 to 1968, the West African pound was replaced by local currencies in the newly independent nations. The replacements were:
| Country | Date | New Currency |
Conversion Rate From Pound |
|||
| Ghana | 1958 | Ghanaian Pound | 1 | |||
| Nigeria | 1958 | Nigerian Pound | 1 | |||
| British Cameroon | 1961 | CFA Franc | 700 | |||
| Sierra Leone | 1964 | Leone | 2 | |||
| Gambia | 1968 | Gambian Pound | 1 |
[edit] Denominations
Coins were issued in 1⁄10, ½, 1, 3 and 6 pence, 1 and 2 shillings. Bank notes were issued from 1918, in 1, 2, 5, 10, 20 and 100 shilling denominations, with the two highest denominations also given as 1 and 5 pounds.
