29/06/2020: Introduction of New Banknotes
Liberia introduces new banknotes with enhanced security features to combat counterfeiting and improve confidence in the currency.
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.
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.
14/10/2000: ECOWAS Intervention
ECOWAS forces intervene in Liberia, leading to improved stability and gradual recovery of the Liberian dollar.
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.
19/07/1997: Liberian Dollar Depreciation
The Liberian dollar experiences a significant depreciation due to economic mismanagement and the aftermath of the civil war.
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.
26/01/1982: Liberian Civil War Begins
The Liberian civil war begins, leading to significant economic instability and devaluation of the Liberian dollar.
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.
23/03/1907: Liberian Dollar Pegged to US Dollar
The Liberian dollar is pegged to the U.S. dollar at a ratio of 2:1, maintaining a fixed exchange rate for many years.
10/07/1849: Introduction of Liberian Dollar
The Liberian dollar is introduced as the official currency of Liberia, replacing the use of foreign currencies in the country.
26/07/1847: Liberian Independence
Liberia declares independence from the American Colonization Society, establishing the first republic in Africa.