NIGERIAN BANKNOTE COLLECTOR ADETUNJI OMOTOLA

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V21 2018 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 21, Number 50, December 16, 2018, Article 23

The collecting instinct is universal. Here's a story about a Nigerian man attempting to collect banknotes from all the countries in Africa. -Editor

So TheAfricanDream.net out of curiosity recently got curious about our favorite numismatist Adetunji Omotola and his interest in Africa’s over 53 currencies, especially when the Nigerian made us aware that as of January 1, 2013, the Zambian Kwacha (ZMW) was the strongest currency on the continent.

“I have always been fascinated by currencies no matter which countries they come from. We have recently seen increased economic growth in many African countries driven by high commodity prices and China’s massive demand,” an excited Mr. Omotola said to TheAfricanDream.net.

“Some African countries like Ghana, Zambia, Mozambique, and Mauritania have also embarked on re-denomination of their respective currencies. In view of all of these factors and given the need to ensure that one has souvenirs from each African country beyond artifacts, I have decided to begin the collection of various African currencies,” Mr. Omotola explained the reason behind his love for numismatics.

Many African countries will change their currency’s appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies, there is such rampant inflation that re-valuing must take place ever so often, a classic example being the Zimbabwea.

It is tough to live in one African country and endeavor to collect thirty-one currencies across Africa especially given the high cost of travel around the continent. “The fact that some countries’ currencies are not even of any serious value should be something to bear in mind,” said the numismatist who shed light on some of the downsides of his passion. “Currencies like the Burundian Franc (BIF), the Ugandan Shilling (UGX), the Tanzanian Shilling (TZS), and the Guinea Conakry Franc (GNF) are very weak to major currencies like the USD.” Based on this Adetunji advised that one need not bother collecting them, unless, like his, your simple task is to collect every currency in each denomination in existence.

And the juicy part of our chat with this numismatist — when we asked how many of the 50 plus currencies of Africa he has in his collection. You should have heard him blast a giggle that was a poor attempt to hide laughter borne of excitement. “I am in possession of forty-one notes of 10 different African countries. Most were given to me by a Ghanaian based in Botswana, a Mosotho from Lesotho, A South African who traveled to Zambia and a Ghanaian based in Ghana who handed same over to my Ghanaian friend based in Johannesburg that met her in Accra.”