By Hajaratu S Bangura
The Bank of Sierra Leone has issued a notice, urging the mandatory use of National Identification Numbers by banks and other financial institutions. The notice comes two years after initial engagement by the central bank with all sector players.
NIN is a unique identification number issued out by the National Civil Registration Authority.
According to the central bank, the latest measure aims at “enhancing customer identification, financial integrity, combating fraud, interoperability and supporting the development of a robust digital financial ecosystem”
These new instructions now demands that all customers opening a bank account should have an NIN number. Businesses are also required to get Tax Identification Number (TIN) from the National Revenue Authority.
Customers with bank accounts will also be required to update their account records with their NIN on or before the 31st of December, 2025.
The notice also highlighted NIN as a critical criteria for the use of the national payment switch. The central bank is demanding that existing customers who want to access the payment switch should also have their NIN linked to their bank accounts by the end of August this year.
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