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Sequel to the just concluded extraordinary meeting held in Washington DC on 2nd November 2022 between the United States Federal Reserve Bank, Office of the Comptroller of Currency, IMF, World-Bank and Governors of Africa’s Central Banks, the United States Government has set date for restriction on acceptable legal tender note of US Dollar which will commence on 31st January 2023.
The restriction implies that any US Dollar note below 2021 printed date will no longer be accepted or be a legal tender anywhere in the world. This effort is to curb billions of illegal monies in dollar bills warehoused around African continent emanating from drug related, terrorism, kidnapping and money from corrupt politicians.
As part of the enforcement of the strict action plan, African central banks will be assigned with a special agent from the Office of the Comptroller of Currency, Administrator of National bank United States of America to checkmate all inflows and outflows of dollar transactions.
The report also has it that US president has also written to British Government and European Union to tour same line and redesign their currencies accordingly to frustrate those with ill-gotten money in US dollar, British Pound Sterling and Euros.
Sierra Leone, like majority of other African Countries that use Dollar to pay for imports, its currency, the Leone has been drastically depreciating against the dollar, and that has severely battered the country’s economy. The costs of goods and services have sharply increased as a result of the devaluation of the Leone against the Dollar.
Over the past months, the Leone has been on a free fall against the Dollar. The exchange rate of the Leones to Dollar as of today, Sunday 6 November 2022, 1 United States Dollar equals to 17,655.00 Leone.
