British West Africa, British colony, 1 Shilling – 1947

Description

British Western Africa as a colonial management entity, ceased to exist in 1888, although a common monetary unit has been maintained since 1907. In fact, at this time, the British authorities decided to create a different currency for the colonies of Western Africa, Nigeria, Ghana (Gold Coast), Sierra Leone and Gambia. The reason was that the British circulating taken to the colonies ended up returning to the United Kingdom, causing a continuous lack of current. With the new currency, the refusal to its acceptance in the United Kingdom was expected, facilitating the circulating in the colonies. Togo and Cameroon also adopted the sterling pound of West Africa in 1914 and 1916 respectively after the invasion of these German colonies within World War I. From 1958 each country adopted its own currency prior to independence. Although the region was controlled as a means for the effective prohibition of slave traffic, the economy quickly developed based on mineral resources, and planting agriculture.