Mazi Simon Ekpa, the Prime Minister of the Biafra Republic Government in Exile, has announced the establishment of Biafra’s digital currency, Biafracoin, in light of the ongoing Naira crisis.

In a statement released through his official X handle on Wednesday, the Finnish-based lawyer, Ekpa, revealed that Biafrans have voted in favor of adopting Biafracoin. This decision follows the recent enactment of the Biafra Digital Currency Act 04/2024, which empowers the government to provide digital currency to Biafrans through Biafracoin.

Ekpa emphasized that the value of 1 Biafracoin is equivalent to 1 US Dollar. He urged Biafrans to invest in Biafracoin as the Naira continues to experience volatility against other currencies in the foreign exchange market. Furthermore, he stated that Biafracoin would be listed on the global stock exchange market and accepted in all cryptocurrency transactions.

“The Biafra Republic Government in Exile has officially adopted the Biafra Digital Currency Act 04/2024, granting the government the authority to issue digital currency to Biafrans in the form of Biafracoin. The value of 1biafracoin is set at 1 US dollar.

“As the Nigerian Naira continues to decline, we encourage Biafrans to commence investing in Biafracoin once it becomes publicly available. Biafracoin will be listed on the stock exchange and will be globally recognized and accepted in cryptocurrency transactions,” Ekpa explained.

It is worth noting that on Tuesday, the Naira depreciated to N1,615.94 per USD from N1,582.94 on Monday. Additionally, on February 1, BRGIE unveiled a voting portal where over three million Biafrans participated in the Biafra Referendum.