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.
27/04/2010: Adoption of new currency symbol
Sierra Leone adopts a new currency symbol for the leone (Le), representing its cultural heritage and national identity.
29/07/2003: Introduction of new leone notes
Sierra Leone introduces a new series of leone banknotes with enhanced security features to combat counterfeiting.
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.
22/02/1996: Civil war ends
The Sierra Leonean Civil War comes to an end, providing an opportunity for economic stabilization and currency reform.
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.
29/04/1980: Coup d'etat
A military coup takes place in Sierra Leone, leading to economic instability and a decline in the value of the leone.
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.
15/07/1974: Redenomination of the leone
Sierra Leone redenominates its currency, replacing the old leone with a new leone at a ratio of 1:4.
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.
04/11/1971: Introduction of decimal currency
Sierra Leone adopts a decimal currency system, replacing the pound with the leone as its new official currency.
27/04/1961: Independence of Sierra Leone
Sierra Leone gains independence from the United Kingdom, introducing the Sierra Leonean leone as its official currency.