BSL Set New Measures for Old Leones Exchange

By Alusine Fullah

Pursuant to Section 29 of the Bank of Sierra Leone (BSL) Act 2019 it has released other new measures for the exchange of Old Leones. According to a press release that was released by BSL on the 28^th March, 2024, it vividly states that from 1^st April 2024 Commercial Banks shall cease to exchange the Old Leone. it reads: “…that from 1^st April, 2024 Commercial Banks shall cease to exchange the Old Leones for the Redenominated Currency (New Leone).”

The press release went further to state that from 1^st April 2024, the Old Leone can only be exchange for the New Leone at: the Bank of Sierra Leone offices in Freetown and Kenema or other designated places. Also, Apex Bank Sierra Leone is another designated bank for the exchange.