20 Shillings

The West African Currency Board operated as a passive currency authority — it issued notes fully backed by sterling reserves held in London, with no capacity to conduct monetary policy. That structural dependency was precisely what made it politically untenable once independence movements matured across British West Africa. Nigeria, Ghana, Sierra Leone, and The Gambia each eventually established their own central banks and retired WACB notes, compressing the effective circulation window of this series considerably despite the wide date range printed on it.

Waterlow & Sons had a long record printing colonial currency for the Crown Agents. The firm was absorbed by De La Rue in 1961, meaning later printings within this issue's date range may reflect transitional production arrangements.