BREAKING: Bank of Sierra Leone Extends Date of Transition of Old Leone to New Leone

The Bank of Sierra Leone has announced that the transition period wherein Old Leones (The Pre-Redenomination Notes and Coins) shall continue to be legal tender in Sierra Leone has been extended to 31st December 2023.

The Bank made this announcement in a public notice issued today, Friday, 10 March 2023.

Full details of the notice is stated below:

Pursuant to Section 18(1) of the Redenomination of the Leone (Consequential Provision) Regulations, 2022, The Bank of Sierra Leone, hereafter referred to as the Bank, hereby informs the general public that:

1. The transition period, wherein Old Leones (The Pre-Redenomination Notes and Coins) shall continue to be legal tender in Sierra Leone, is hereby extended to 31st December 2023.

2. In the absence of any further extension, Old Leones shall cease to be Legal Tender in Sierra Leone on 1st January 2024.

3. The Bank, its designated Agents, Commercial Banks, and other Financial Institutions in Sierra Leone shall continue to exchange Old Leones for the redenominated currency (hereinafter referred to as New Leones) until 31st December 2023.

4. This Public Notice shall become effective on the date it is published in the Gazette.