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Bank of Sierra Leone Affirms ‘NLe’ as Abbreviation For New Leones


The Bank Governor of Sierra Leone, Dr. Ibrahim Stevens has announced “NLe” as the official abbreviation for the country’s re-dominated currency. 

This announcement comes after months of debate following the 2022 re-denomination of the Leone. While the currency itself continues to bear the abbreviation “Le.”, questions arose about how to represent the new, higher-value version. Both “NLe” and “Le” gained traction, leading to uncertainty.

Speaking at the government’s press conference on Tuesday, Stevens declared “NLe” as the official abbreviation for local use, while acknowledging “SLE” as the international code for transactions outside the country.



Dr. Stevens clarified that the government intends to retain “Le” on the notes for historical purposes, emphasizing its cultural significance. However, to avoid confusion in international transactions, “SLE” will serve as the official code for international bodies and markets.

The introduction of “NLe” specifically for local use aims to distinguish the new currency from its predecessor and prevent ambiguity within the domestic financial system.

 “The correct abbreviation for the new currency is NLe, The international code is SLe, to be used for only international transactions.”

“The abbreviation ‘Le.’ still stands on our money’. Government is seeking an amendment of the Bank Act to retain the ‘Le’ for historical purposes and approve the ‘NLe’ for the new currency.” the Bank Governor said.



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Rokel Commercial Bank Outlines Vision For 2024


Following his recognition as African Banker of the Year in December last year by the UK based Reputation Poll International, the Managing Director of Rokel Commercial Bank has on Friday, 9th February 2024 called a press conference to reveal a five point manifesto that spells out an ambitious 2024 vision for the bank.

The RCbank manifesto, according to Dr Gilpln would be anchored on the digitalization programme which has been the hallmark of the bank’s repositioning and rapid transformation over the years.

The five key priority areas brilliantly by the Managing Director include a Cashless Ecosystem, Banking Process Automation, Cybersecurity Ressilience, Digital Transformation and Artificial Intelligence. The Managing Director however maintained that, rolling out such an ambitious project require a lot of expertise. To this end, he reassured pressmen that the bank would be providing capacity building programmes for its current crop of personnel as he urged young Sierra Leoneans to pursue professional disciplines that are available in today’s market.



Gilpin also believe that a robust and resilient financial system will help change negative perceptions about Sierra Leone, adding that the Rokel Commercial Bank is rightfully earning its position as a local bank with a global reach. The bank, he said has developed products that can allow customers access financial services from any part of the globe.

He also informed the media that the bank will be hosting a seminar on cybersecurity later this month and this will include experts from the UK who will help enrich the knowledge base of Sierra Leoneans on the subject. “Cybersecurity has become a global concern and it is important that we put more premium on it to protect our financial system” he averred.

Dr Walton Gilpin concluded by assuring journalists that the bank remains committed to its corporate social responsibility programmes in education, sports, the environment and other areas of philanthropy.



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Rokel Commercial Bank Takes to the Streets in Digital Awareness Parade


In a vibrant display of technological prowess, Rokel Commercial Bank (RCB), Sierra Leone’s premier banking institution, orchestrated a lively floating parade on Saturday, February 10, 2024.

The parade, stretching from the up-gun turn table to the bank’s headquarters on Siaka Stevens Street in Freetown, aimed to sensitize the public about the bank’s digital products and their myriad benefits to customers.

The well-attended event saw a convergence of senior and junior bank staff, accompanied by a multitude of media personnel, navigating the streets of Freetown to disseminate information on RCB’s digital offerings. The parade was adorned with the sounds of Sierra Leonean music and the lively bubu dance, providing entertainment for both staff and onlookers while effectively conveying the bank’s message.



In a Brief statement Dr. Walton Gilpin, Managing Director of RCB, expressed enthusiasm about the event, stating, “This is the beginning of more things to come. The float is also a way of celebrating the banking sector and educating customers and the public about banking in a new and unique way.” Gilpin emphasized that the massive float parade served as a comprehensive awareness initiative for everyone to acquaint themselves with the bank.

Dr.Gilpin highlighted the bank’s commitment to digitalization, showcasing initiatives such as ATM cardless transactions, issuance of Visa Prepaid Cards, and the integration of services like SIMKorpor and EKorpor. These advancements, he noted, streamline tasks, enhance efficiency, reduce errors, and expedite processing times.

Expressing gratitude to the dedicated staff, Gilpin assured that RCB would extend its sensitization efforts nationwide, ensuring every Sierra Leonean gains a comprehensive understanding of digital banking, cybersecurity, and the benefits of going cashless.

Director of Credit Risk Management, Mrs. Milicent Cole, added that the mass marketing campaign aimed to provide insight into the bank’s digital systems and products. She affirmed that RCB’s outreach wouldn’t be confined to Freetown, as the bank plans to traverse the provinces, ensuring customers across the nation are well-informed.

Mrs. Cole hinted at future interactive activities, including Fun Days and sporting events for staff at RCB’s beach house in Goderich. Additionally, she revealed the bank’s commitment to promoting agriculture and other critical human capital development initiatives.

As Rokel Commercial Bank takes strides in digitization, their dynamic approach to public awareness underscores their dedication to embracing the digital era and ensuring every citizen is equipped with the knowledge to navigate the evolving landscape of modern banking.



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Bank of Sierra Leone Approves Mohamed Alhajie Samoura as Managing Director/CEO of UBA Sierra Leone


United Bank for Africa (UBA) Sierra Leone Limited is pleased to announce the approval of Mohamed Alhajie Samoura by the Central Bank of Sierra Leone as the substantive Managing Director/ Chief Executive Officer of UBA Sierra Leone.

The “No Objection” approval was received from the Bank of Sierra Leone on 30th January 2024 following the approval of his nomination by UBA Group Office and the UBA Sierra Leone Board of Directors in December 2023. Having served as the Acting MD/CEO since February last year, Mohamed is the first Sierra Leonean to attain such position in the bank since the bank started it operations in Sierra Leone in 2008.

Mr. Samoura is the 6th MD/CEO of UBA Sierra Leone after his predecessor, Usman Isiaka who is now serving the bank as Deputy MD/CEO of UBA New York.



Since he assumed the seat, Mr Samoura has continued to build on the legacies of his predecessors, he continues to double the figures in revenue, profitability, deposits, account opening and risk assets. He is very passionate about the UBA Brand and has been an exceptional promoter of Sierra Leonean businesses.

Until his appointment as the substantive Managing Director /Chief Executive Officer of UBA Sierra Leone, he was the Executive Director, Business Development in the bank, and Acting MD/CEO UBA Sierra Leone. Mohamed is a seasoned banker with close to two decades of working experience in Sierra Leone banking industry.

Mohamed has several accolades and most recently was named amongst the 100 Most Outstanding Executives in Sierra Leone by the Sierra Ovation Awards. During this short period and under his leadership, UBA Sierra Leone team won the 2023 prestigious Bank of the Year awards from the Banker’s Financial Times UK. Africa Branding Agency celebrating Banking Excellence in Sierra Leone/recognition of UBA Sierra Leone as Top 10 Financial Institutions & Mr. Samoura Top 5 Financial Leaders in Sierra Leone. African Ovation Awards for recognition of outstanding customer service, contribution, and commitment to social and economic development of Sierra Leone. A total of 10 Executive Management staff were awarded 2023 Sierra Leone Leadership Award honouring the Top 100 Emerging Leaders in Sierra Leone 2023. The Salone Times Newspaper one of the leading news agencies in Sierra Leone named him amongst the 10 Most Influential Sierra Leoneans in 2023. The bank also won Climate Positive Bank of the Year awards at the 7thEnvironmental Care Awards organised by Shout Climate Change Africa partnering with Sierra Leone Meteorological Agency and Freetown City Council and many more accolades on records.

He holds a Bachelor of Arts Degree in History and Political Science and a master’s degree in business administration and marketing.

Mr Samoura has a wealth of experience and understanding of the country’s corporate and institutional banking landscape.

The appointment of Mr. Samoura as Managing Director is in line with the UBA Group’s strategic focus on domesticating the bank’s governance, products and services to meet the local requirements of the host economy in all its 20 presence countries in Africa and further supporting human capital development across the continent as we expose the local staff to international standards and global best practices.

Operating in twenty African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, United Bank for Africa provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with over 30,000 employees group wide and serving over 37 million customers globally. UBA Sierra Leone currently has over 400,000 customers with the strong vision to be the undisputed leading and dominant financial services institution in the banking sector in Sierra Leone.



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Bank of Sierra Leone Warns of Illegal Super Advertis Investment Scheme


The Bank of Sierra Leone (BSL) issued a strong warning today against an online entity called “SUPER ADVERTIS” that is illegally soliciting investments through mobile money platforms.

The BSL emphasized that it has not licensed SUPER ADVERTIS for any financial activity, and engaging with them for investments poses a real risk to the public’s finances.

According to the BSL’s public notice, SUPER ADVERTIS appears to be enticing individuals to invest in a secretive financial scheme using mobile money platforms, which involves accepting deposits from the public. However, the BSL clarifies that “SUPER ADVERTIS” operates without the necessary license, making their operations illegal and potentially fraudulent.



The BSL urged the public to exercise extreme caution and refrain from any financial transactions with SUPER ADVERTIS. To ensure their safety, the BSL advised everyone to verify the presence of a valid BSL-issued license displayed in the premises of any financial institution before engaging in any transaction.

The BSL’s warning extends to all similar unlicensed businesses operating in Sierra Leone. The notice stresses that such illegal schemes pose a significant threat to the stability and safety of the nation’s financial system.

This timely intervention by the BSL highlights the growing concern over unregulated financial activities, particularly those targeting mobile money users. As mobile money transactions become increasingly popular, ensuring user protection and preventing fraudulent schemes remains a crucial challenge for financial authorities across Africa.

The BSL’s public notice serves as a wake-up call for Sierra Leoneans, urging them to prioritize caution and due diligence when considering any investment opportunity, especially if it involves mobile money or operates outside the official financial system.



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Rokel Commercial Bank Staff Clinch Multiple Wins in Single Awards Ceremony


In this year’s Diaspora FOCUS dinner and award night hosted at the prestigious Bintimani Hotel on the 19th December 2023, the leaders of the organization recognized institutions, other sectors and key personalities who are working tirelessly with unwavering commitment and are contributing positively to the development and growth of Sierra Leone as a nation.

The DiasporaFOCUS award is a National Annual Award conducted at the end of every year through a rigorous and transparent process to applaud and encourage individuals, institutions and other sectors to do more in their areas of specialization. The decision to be nominated as an awardee is certified by the committee of ethics and standardization of the organization to enhance equity and reduce familiarity threat.

On the 12th edition of the DiasporaFOCUS National Development Awards Night, the Managing Director & CEO Dr. Walton E. Gilpin and three staff garnered five awards including the Bank of the Year award 2023.



The eligible awardees were:
1. Dr. Ekundayo W. Gilpin – Managing Director of the Year
2. Mrs. Mariama Jajua – Exceptional Award for Community Development
3. Mr. Lithin Nasani – I.T GURU of the Year
4. Mr. Aruna Dumbuya – Public Relations Officer (PRO) of the Year

The Bank of the year award emanated not only from the ethics and standardization committee but also from the decisive reached of the legitimate vote casted from the general public.

The prestigious honor awarded by DiasporaFOCUS is a reflection of the Bank’s outstanding reputation and its consistent efforts in providing outstanding banking services to its customers. With a strong focus on customer centricity and innovation, Rokel Commercial Bank has emerged as a trusted name in the financial space.

As one of Sierra Leone’s top financial institutions, Rokel Commercial Bank has played a essential role in driving economic growth and development in the country.

This accolade serves as a testament to Rokel Commercial Bank’s untiring commitment to excellence and its significant contributions to the financial sector.
Dr. Gilpin and awarded staff dedicated their awards to the bank and applaud staff of the RCBank for their various contributions and support that led them to be nominated by DiasporaFOCUS in the 12th Edition of the 2023 dinner and awards ceremony.

In Dr. Gilpin’s short statement of appreciation, he referenced the vision of His Excellency the President of the Republic of Sierra Leone Rtd. Brig. Dr. Julius Maada Bio, the Board, Management and Staff of Rokel Commercial Bank (RCBank) and thanked Dr. Emmanuel J.M Stafford and the leadership Team of DiasporaFOCUS for their continued quest to distinguish hard working Sierra Leoneans and other National working in the country.
RCBank – The Bank of Choice!!!



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Bank of Sierra Leone Foreign Currency Exchange Rate For December 15, 2023


The Bank of Sierra Leone has on the 15th of December 2023 released the official foreign exchange rate in the country.

The rates include the cost of buying and selling major foreign currencies including Pounds Sterling, Euros, and United States Dollar, amongst others.

The Central Bank’s disclosed rates are as follows:



Pounds Sterling: Buy at Le 28.718-0.35, Sell at Le 29.01588-0.35

• U.S. Dollars: Buy at Le 22.531-0.06, Sell at Le 22.7575

• Euro: Buy at Le 24.4891-0.15, Sell at Le 24.7302-0.15

Note: The Movements in the exchange rate influence the decisions of individuals, businesses and the Sierra Leone government. Collectively, this affects economic activity, inflation and the balance of payments.



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Rokel Bank MD Named African Banker of the Year at the Marriott County Hall in London


Dr. Walton Ekundayo Gilpin, the Managing Director of Rokel Commercial Bank, has been honored as the African Banker of the Year at the Global Reputational & Fintech Award ceremony hosted by Reputation Poll International at London’s Marriott County Hall.

The Global Reputational Forum &  Fintech and Award ceremony was hosted by Reputation Poll International on the 8th & 9th December, 2023 at the Marriott County Hall in London.

The event was staged to acknowledge rapid expansion, integration, accelerated growth, and reforms of Africa’s banking and financial sector. The event honored and celebrated outstanding Banks and Fintech Institutions that are moving Africa’s rapidly transforming the financial sector.



The first day of the event took the form of a symposium that featured four groups discussing different walks of life. Dr. Gilpin happened to be part of the banking sector group to discuss the digital transformation in the banking sector of Sierra Leone and Africa at large.

Key members of his team were adroit panelists like:

  1. Peter Kolade Fashesin-Souza from Bank of England
  2. Dr. Graham Bright from Euro Exim Bank
  3. Mr. Olufemi Bakre from Paralex Bank Nigeria, and
  4. Dr. Tony Ojobo – The lead panelist – President of the African ICT Foundation

Dr. Gilpin served as a moderator on the second day of the event that featured speeches and fire side chats with panelists like:
1. Her Excellency Atifete Jahjaga – First female president of Kosovo (2011-2016)
2. Dr. Yvonne Thompson – Founder WINTRADE GLOBAL
3. Dr. Rex Idaminabo – FRSA
4. Olori Atuwatse III – Queen of Warri Kingdom, Nigeria
5. Prof. Mthulincube – Ministry of Finance & Inv, Zimbabwe
6. Peter K. Fashesin-Souza – Head of IT, Security & Risk, Bank of England (HSBC)
7. Festus Akinbusoye – Bedfordshire Police and Crime Commissioner

Dr Walton E. Gilpin impressed the high-level panelists of finance, economic experts and leaders on the 8th & 9th of December, 2023 deliberating on the operations of traditional banks in Africa and how they are embracing technology for enhanced customer experiences and operational efficiency.

Dr. Gilpin emerging as “African Banker of The Year” is a testament of the cutting edge strategies in the technological and innovative drive of RCBank to place itself among key players in the African Continental Innovation Drive.

The prodigious fulfillment of the Sierra Leone banking industry by the astute MD will always leave an indelible blueprint for many banking and other financial practitioners.

The Managing Director who is renowned for his flawless oratory and excellent skills of the financial industry explained effortlessly the intricacies and opportunities digitalization has brought to the continent’s banking industry, making reference to Rokel Commercial Bank which he said has diligently navigated through a tumultuous transition to become a leader in innovative digital banking in Sierra Leone.

Underscoring the challenges faced by banks especially in terms of their desire to serve the whole country versus the realities of coping with infrastructural shortfalls like insufficient mobile connectivity, the MD said banks would normally have to collaborate with Mobile Network Operators (MNOs) to ensure customers have access to financial services wherever possible. To this end and considering the fact that Sierra Leone is a cash based economy, RCBank has adopted several innovative ways to ensure customers access their services in almost every part of the country.

This type of plenary session is the dream of great bankers and financial practitioners who may want to develop their up-skills and want to be part of a team of highbrows.
RCBank – The Bank of Choice!!!



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Rokel Commercial Bank Wishes its Valued Customers a Happy New Month and a Happy Friday


Rokel Commercial Bank, the people’s choice, extends a warm welcome to the month of December. We would like to wish all our valued customers a very happy new month. As this month begins with a Friday, we also want to take this opportunity to wish you all a delightful weekend ahead.

As we approach another festive season, Rokel Commercial Bank is excited to be part of your celebrations. We understand that this time of the year is filled with joy and excitement, and we are here to support you in making your dreams come true.

At Rokel Commercial Bank, we strive to provide exceptional banking services that cater to your unique needs. Whether it’s managing your finances, saving for the future, or planning for special occasions, our dedicated team is ready to assist you every step of the way.



As the year comes to an end, we encourage you to reflect on your achievements and set new goals for the upcoming year. Rokel Commercial Bank is committed to helping you achieve financial success and providing innovative solutions that empower you to reach your aspirations.

We value your trust and loyalty as our esteemed customers. Your satisfaction is our top priority, and we continuously work towards enhancing our services and offerings. As always, we welcome any feedback or suggestions you may have as it helps us improve and serve you better.

This December, let Rokel Commercial Bank be your financial partner in making memories that will last a lifetime. We are here for all your banking needs and looking forward to serving you with excellence throughout this festive season.

On behalf of Rokel Commercial Bank, we would like to extend our warmest wishes to you as we enter into a new month and looking forward to celebrate the holidays with you, family members and friends. We hope that this message finds you in good health and high spirits.

RCBank – The Bank of Choice!!!!!



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Rokel Commercial Bank and MD Honored With Prestigious Environmental Care Awards for 2023


Rokel Commercial Bank and its Managing Director were honored with prestigious environmental awards by Shout Climate Change Africa on November 24, 2023.

The bank received the title of Environmental Excellent Bank of the Year, while the Managing Director was named Climate Champion CEO of the Year 2023.

The bank, known for its exceptional banking services and dedication to corporate social responsibility, was honored with this prestigious Excellence Bank of the Year award.



This recognition is a testament to Rokel Commercial Bank’s unwavering efforts in integrating sustainable practices into its operations. From implementing energy-efficient technologies to promoting responsible lending practices, the bank has consistently demonstrated its commitment to reducing its environmental footprint.

The esteemed title to the MD & CEO highlights the exceptional leadership skills and visionary approach of the Managing Director in driving sustainable initiatives within the organization.

Under the Bank’s guidance, Rokel Commercial Bank has implemented various innovative strategies to mitigate climate change risks and promote environmentally friendly practices. These include tree planting site, investing in renewable energy projects, supporting green businesses through tailored financial solutions, and actively engaging with stakeholders to raise awareness about environmental issues.

The Climate Champion CEO of the Year award not only recognizes the individual achievements of the Managing Director but also acknowledges Rokel Commercial Bank’s overall commitment to sustainability under the Bank’s leadership. It serves as a testament to the Bank’s dedication towards creating a greener future for Sierra Leone’s banking industry.

By receiving these prestigious awards, RCBank and its Managing Director have set an inspiring example for other financial institutions and business leaders across Sierra Leone. These successes demonstrate that it is possible for banks and other financial institutions to prioritize environmental care while maintaining excellence in their core services.

Moving forward, Rokel Commercial Bank remains committed to upholding its reputation as an environmentally conscious institution. The bank will continue to work towards implementing sustainable practices throughout its operations and fostering a culture of environmental responsibility among its stakeholders.

Through this initiative and other sustainable practices; the bank continues to maintain its tree planting site at the rural district of Sierra Leone and also embarks on raising awareness, empowering local communities, and inspiring collective action towards building a greener future for generations to come.
RCBank – The Bank of Choice!!!



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