Former Nigerian Head of State Yakubu Gowon says the Igbo population received compensation for losses after the Biafra civil war. In statements reported from his memoir, “My Life of Duty and Allegiance,” Gowon argues that policies adopted after the war aimed to address the currency situation created by the conflict. He says the Central Bank formed a panel to examine the effects of converting Biafran pounds into another currency, but that the task was difficult because the Biafran currency was not officially recognized as legal tender in Nigeria. Gowon says the federal government concluded it could not exchange all Biafran pounds at the same value without harming the economy. He adds that economic specialists recommended a compensation model based on a fixed payment for each adult from Biafra, regardless of the amount of Biafran money claimed. Gowon also states that those who left Nigeria but had proof of funds in Nigerian banks received the full value of their money plus interest, paid in Nigerian currency. He dismisses claims blaming Obafemi Awolowo for allegedly giving people £20, particularly where those individuals reportedly had much larger sums in banks before the war.