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.
01/07/2019: Redenomination of the Belarusian Ruble
Belarusian ruble undergoes another redenomination, with 10,000 old rubles being exchanged for 1 new ruble.
01/12/2016: Introduction of new 20 and 50 ruble banknotes
New banknotes with improved security features and modern designs are introduced in denominations of 20 and 50 rubles.
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.
20/05/2009: Devaluation of the Belarusian Ruble
Due to economic crisis, the Belarusian ruble devalues by approximately 20% against major foreign currencies.
28/05/2000: Introduction of New Coins
New coins, denominated in kopeks, are introduced alongside the ruble banknotes.
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.
30/06/1998: Introduction of New Banknotes
New series of banknotes is introduced, featuring improved security features and designs.
24/05/1994: Belarusian Ruble Redenomination
To stabilize the currency, the Belarusian ruble undergoes a redenomination, with 10,000 old rubles being exchanged for 1 new ruble.
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.
20/05/1992: Introduction of the Belarusian Ruble
The Belarusian Ruble is introduced as the official currency of Belarus, replacing the Soviet ruble at a rate of 1 Belarusian ruble to 10 Soviet rubles.
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.