28/07/2020: Ethereum 2.0 Testnet Launch
The Beacon Chain, the first phase of Ethereum 2.0, goes live on a public testnet, marking a significant step towards the transition to a proof-of-stake consensus mechanism.
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.
20/07/2017: Ethereum Hard Forks: Byzantium
The Ethereum network undergoes a hard fork upgrade named Byzantium, implementing various improvements to enhance scalability, privacy, and security.
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.
17/06/2016: The DAO Hack
The Decentralized Autonomous Organization (DAO), built on the Ethereum platform, suffers a major security breach, resulting in the theft of approximately 3.6 million ETH tokens.
30/07/2015: Ethereum Mainnet Launched
The Ethereum mainnet is released, enabling developers around the world to build and deploy decentralized applications on the Ethereum blockchain.
30/07/2013: Ethereum Whitepaper Published
Vitalik Buterin publishes the Ethereum whitepaper, outlining a new blockchain platform designed to support decentralized applications and smart contracts.
03/01/2009: Bitcoin Genesis Block Created
The first block of the Bitcoin blockchain, known as the Genesis Block, is mined by Satoshi Nakamoto, marking the birth of the Bitcoin network.
31/10/2008: Bitcoin Whitepaper Published
Satoshi Nakamoto releases a whitepaper titled 'Bitcoin: A Peer-to-Peer Electronic Cash System,' introducing the concept of a decentralized digital currency.
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.
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.