20/03/2020: Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.
02/03/2020: COVID-19 impact
The outbreak of the COVID-19 pandemic resulted in economic disruptions, affecting the Ukrainian Hryvnia and causing volatility in the currency markets.
20/06/2016: Adoption of Flexible Exchange Rate Policy
The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.
05/02/2015: Currency devaluation
Due to the economic crisis, the Ukrainian Hryvnia experienced a significant devaluation, leading to a sharp increase in prices and financial hardships.
20/02/2014: Ukrainian revolution
The Ukrainian revolution began, leading to political instability and economic challenges, impacting the value and stability of the Ukrainian Hryvnia.
01/07/2008: Exchange rate flexibility
Ukraine implemented a flexible exchange rate system, allowing the Ukrainian Hryvnia to fluctuate based on market forces rather than being pegged to a fixed rate.
01/10/2004: Banknote redesign
New banknotes of the Ukrainian Hryvnia were issued with enhanced security features and updated designs, aimed at combating counterfeiting.
29/05/1999: Transition to Democratic Governance
Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.
02/09/1996: Currency reform
A currency reform was conducted, introducing new banknotes and coins of the Ukrainian Hryvnia, addressing issues of inflation and stabilization.
12/06/1993: Introduction of the Third Nigerian Naira
The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.
02/09/1992: Introduction of the Ukrainian Hryvnia
The Ukrainian Hryvnia (UAH) was introduced as the national currency, replacing the Soviet ruble, marking Ukraine's economic independence.
31/12/1984: Implementation of the Structural Adjustment Program
The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.
01/07/1979: Adoption of the Second Nigerian Naira
The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.
01/07/1973: Introduction of decimal currency
The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.