AYV News, July 18, 2025
The Government of Sierra Leone, through the Bank of Sierra Leone, has announced new regulations requiring the mandatory use of the National Identification Number (NIN) for all banking activities.
Travel destinations
The directive is effective immediately and aims to enhance the identification process for both individual and business customers.
According to the announcement, all new individual customer accounts must be opened with a valid NIN issued by the National Civil Registration Authority (NCRA).
For businesses, as confirmed by the announcement, the Tax Identification Number (TIN) provided by the National Revenue Authority (NRA) will be necessary for account openings.
Existing customers are also affected by this new policy. They are required to update their account records with their NIN numbers by December 31, 2025. This update is crucial for maintaining accurate banking records and ensuring compliance with the new regulations.
Furthermore, for those wishing to access or utilize the National Switch for payments, it is imperative that their NIN is linked to their bank accounts by August 31, 2025.
This step is notably part of the government’s broader initiative to streamline financial transactions and improve security measures within the banking sector.
