Sierra Leone: Currency Redenomination
Pursuant to Section 30 of the Bank of Sierra Leone Act 2019, the Bank of Sierra Leone issued a public notice introducing new currency notes and coins, which shall be called the New Leone. The redenomination will be achieved by removing three zeros from the current currency.
The New Leone shall be in the following denominations:
| New Leone | Equivalent in the Old Leone |
Notes |
|
|
| 1 | 1,000 |
| 2 | 2,000 |
| 5 | 5,000 |
| 10 | 10,000 |
| 20 | 20,000 |
Coins | 1 cent | 10 |
| 5 cent | 50 |
| 10 cent | 100 |
| 25 cent | 250 |
| 50 cent | 300 |
Section 1(3) of the Redenomination of the Leone (Characteristics) Regulation 2021 published the effective date the redenominated currency shall become legal tender as of 1st July 2022.
Additionally, the National Revenue Authority also issued a notice, effective 1 July 2022 onwards all filing of returns and payments must be done in the New Leones. Please see the notice for further information.
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