PUBLIC NOTICE REDENOMINATION OF LEONE – END OF THE TRANSITION PERIOD

WHEREAS by Public Notice dated 10^th March 2023, the Bank of Sierra Leone extended the transition period (where the old and new currency shall continue to be legal tender) to 31^st December 2023).

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

1. The transition period, wherein the Old Currency (The Pre-Redenomination Notes and Coins) shall continue to be legal tender in Sierra Leone, ends on 31^st December 2023.
2. Effective 1^st January 2024, the Old Currency (The Pre-Redenomination Notes and Coins) shall cease to be legal tender.
3. Between 1^st January 2024 and 31^st March 2024, the Old Currency shall be exchanged for the Redenominated Currency at the Bank, its designated Agents, Commercial Banks, and Other Financial Institutions in Sierra Leone.
4. After 31^st March 2024, the Old Currency shall only be exchanged for the Redenominated Currency at the Bank of Sierra Leone, or any of its designated Agents.
5. This Public Notice shall become effective on the date it is published in the Gazette.

Dated: 24^th November 2023