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.
01/04/2019: Romania plans to adopt the euro
The Romanian government announces its intention to join the Eurozone and set a target date for adopting the euro as the national currency.
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.
01/06/2005: Currency redenomination
Romania underwent a currency redenomination, with 10,000 old lei being exchanged for 1 new leu, to simplify transactions and eliminate zeros.
01/07/2003: Romania joins EU Accession
As part of joining the European Union, Romania pledges to adopt the euro in the future, aiming for greater economic integration.
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.
28/02/1991: End of communist era
As communism collapsed, Romania undergoes economic reforms and introduces a free-floating exchange rate system for the leu.
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.
30/12/1947: Communist regime introduces new leu
In an attempt to devalue the currency and control the economy, the Communist regime introduces a new leu at a ratio of 1:20,000.
01/03/1901: Introduction of the gold standard
Romanian leu was tied to the gold standard, ensuring the stability of the currency and attracting foreign investments.
01/04/1867: Creation of the Romanian leu
The leu was established as the official currency of Romania, replacing the previous currencies in circulation.