Starting on April 1st, Bank of Sierra Leone will no longer accept old Leone notes in commercial banks.

March 28, 2024, the Bank of Sierra Leone (BSL) announced that as of April 1st, 2024, commercial banks would no longer accept old Leone notes for exchange with the redenominated currency (New Leone). This instruction is consistent with a previous press statement issued by the BSL on December 30, 2023. 

People will no longer be able to exchange their old Leone notes at commercial banks after April 1st, 2024. In order to simplify monetary operations and guarantee the seamless introduction of the New Leone currency throughout the country, the action represents an important milestone in the currency transition process.

Bank of Sierra Leone @bankofsl issues final date for the exchange of the Old Leone for the Redenominated Currency (New Leone) @SLAJ_Salone #SaloneX pic.twitter.com/pHdQ5d9F43

— Ministry of Information and Civic Education MOICE (@MoiceComm) March 28, 2024

All community banks, Apex Bank (SL) Limited, and Bank of Sierra Leone offices in Freetown and Kenema are among the places where people can still exchange their old notes for new ones. This clause guarantees currency transfer even in the event that commercial banks shut their exchange services. 

The government hopes to provide a smooth transition process and simple access to the new currency for all citizens by providing a variety of exchange options. This decentralized strategy emphasizes the dedication to financial transaction facilitation throughout Sierra Leone's numerous regions and inclusivity.

The public is reassured by the Bank of Sierra Leone that there are no costs involved in exchanging old Leonese notes for new ones. To avoid any trouble, the BSL stresses how crucial it is to exchange old cash before the deadline of April 1. The goal of the BSL is to promote broad involvement in the currency transition process by enabling open exchanges. 

This proactive strategy aims to reduce disturbances and provide a seamless transition for every citizen. To avoid any future issues or difficulty, people are therefore asked to seize this chance and swap their old Leone notes as soon as possible.