01/01/2022: Removal of monarchy symbol
Brunei currency no longer featured the portrait of the Sultan as part of efforts to modernize the banknotes.
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.
21/07/2017: Commencement of New Series Polymer Banknotes
New series of polymer banknotes with modern designs entered circulation.
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.
05/05/2013: Upgrade of polymer banknotes
Introduction of new polymer banknotes with enhanced security features.
01/07/2011: Introduction of Brunei-Indonesia Currency Agreement
Brunei dollar became interchangeable with Indonesian rupiah in specified regions.
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.
18/03/1996: Change in currency regime
Brunei dollar became fully backed by foreign exchange reserves instead of gold.
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.
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.
12/06/1973: Establishment of Brunei Currency Board
Currency Board assumed responsibility for the issuance and management of Brunei dollar.
27/07/1967: Introduction of Brunei and Singapore Currency Interchangeability Agreement
Brunei and Singapore dollars became interchangeable at par.