15/09/2021: Digitization of the Moroccan dirham
Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.
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.
02/06/2014: Introduction of the fourth dirham
Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.
02/07/2005: Dirham's exchange rate floatation
Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.
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.
01/05/1999: Introduction of the third dirham
A new series of Moroccan dirham banknotes was introduced with enhanced security features.
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.
12/12/1980: Introduction of the second dirham
A new series of Moroccan dirham banknotes was issued to replace the first series.
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.
17/10/1974: Adoption of the dirham as the currency
The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.
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.
26/11/1960: Introduction of the Moroccan franc (FRF)
The Moroccan franc was introduced as the official currency of Morocco.