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The Bank of Sierra Leone has announced an extension of the deadline for all financial institutions and fintech companies to fully integrate into the National Payments Switch.
In a press release issued on April 10, the bank stated that the new deadline is now set for June 30, 2025, extending the original date of March 31, 2025.
This extension is aimed at accommodating financial institutions and fintechs that were not ready to complete their integration by the initial deadline. All institutions are now required to route all domestic transactions through the National Switch to enhance the efficiency and security of payments in Sierra Leone.
The Bank of Sierra Leone has formally instructed all financial institutions and fintechs that have not yet joined the National Switch to engage with the National Switch Department to ensure complete integration into the system.
Additionally, the bank has confirmed that all existing bilateral arrangements between financial institutions and fintechs will remain permissible during the extended period from March 31 to June 30, 2025. By the end of this period, the Bank of Sierra Leone expects all institutions to be fully integrated into the National Payments Switch.
