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| 正面描述 | The obverse is printed in dark green on a yellow guilloche underprint. The bank name arches across the top border within an ornate scrollwork frame, with denomination numerals in the four corners. To the left, a circular guilloche medallion bears the numeral '5' over 'CENTAVOS' within a wreath, while to the right a circular vignette carries the Banco Nacional Ultramarino seal with a sailing ship, encircled by the legend 'BANCO NACIONAL ULTRAMARINO – LISBOA'. The denomination 'CINCO CENTAVOS' appears in a central cartouche, below which 'MOEDA CORRENTE' and the date in italic script are printed, with a signature line for the Governor and a serial number at the lower centre. |
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| 正面铭文 | BANCO NACIONAL ULTRAMARINO EM LOANDA • CINCO CENTAVOS • MOEDA CORRENTE LISBOA, 19 de Abril de 1918 (Translation: National Overseas Bank in Luanda, Five centavos, current currency Lisbon, April 19, 1918) |
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The Banco Nacional Ultramarino issued this small-denomination wartime note under emergency conditions that had effectively stripped Portugal's colonial banking system of its metallic small change. By 1918, the hoarding of copper and bronze coins — accelerated by World War I and the economic disruption of the Portuguese Republic's early years — had created a genuine transactional void at the lowest denomination levels, forcing BNU to authorize paper substitutes that would have been considered absurd in peacetime.
Annuncio Commercial was a Lisbon commercial printer, not a specialist security printer. The choice reflects how severely constrained BNU's options were at this moment.