Regulatory Alerts2024-01-01
Bank of Sierra Leone (Amendment) Act 2024
The President and Parliament of Sierra Leone enacted this amendment to formally designate the Leone as the official currency for accounting, financial reporting, and transaction pricing. The legislation mandates new currency prefixes of 'NLe.' for banknotes and 'c.' for coins, while preserving the historical 'Le.' and 'c' designations for legacy transactions valid between 1964 and 2023. Violations of these provisions constitute criminal offences punishable by fines of at least NLe. 150,000, imprisonment for a minimum of three years, or both.
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