APC Raises Concerns Over Redenomination Date
The main opposition Whip of the All People’s Congress Party in Parliament, Hon. Hassan Sesay has criticized the Bank Governor of the Bank of Sierra Leone, Kelfala M. Kallon for failing to adhere to the rules and procedures of Parliament before publishing the date for the use of the new Leones to the public.
In a release sent out by the Bank of Sierra Leone, the new Leones will become a legal tender in the country and will be in circulation effective July 1st, 2022.
According to the MP, the Bank Governor ought to have first sat with Parliament to discuss the date the new Leones to come into effect but rather the governor went ahead and released a public notice before going to Parliament.
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“The monetary policy is a government policy that plays pivotal role for the growth of the economy,” he said, adding that there was need to differentiate what is good for the country in general and what is good for certain number of people in the society.
Hon. Sesay said the notice for the circulation of the new currency has come out when they have not concluded the procedures for the circulation of the redenominated currency, saying that they have been denied debating the issue based on the time frame.
However, the Leader of Government of Business Hon. Matthew Nyuma expressed dismay as to why the opposition Whip had to bring up the issue since they already met as leaders and had instructed the Finance Chairman to summon the Bank Governor to be in Parliament for next week Monday to commence the debate.
He said the banking system is a credible institution and cannot ignore the calling of Parliament.