BANK OF SIERRA LEONE SUSPENDS OPERATIONS OF ECLIPSE MICRO FINANCE (SL) LIMITED

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Pursuant to Section 10 (1) of the Other Financial Services (OFS) Act 2001 and consistent with its mandate to maintain a safe and stable financial system, the Bank of Sierra Leone hereby informs the public that it has suspended, with immediate effect, the operations of Eclipse Micro Finance (SL) Limited, whose headquarter office is situated at No. 17 Siaka Stevens Street, Freetown.

The Bank’s action is to forestall deterioration in the institution’s finances and mitigate any risk to the micro-finance sector.

In accordance with Section 36 (2) of the OFS Act 2001, the Bank of Sierra Leone, in consultation with the Ministry of Finance, is working on the required next steps and actions.

The specific details of these actions will be duly communicated to affected customers and other stakeholders of the Institution.

The Bank of Sierra Leone assures the Public that the suspension of the operations of Eclipse Micro Finance (SL) Limited poses no threat to the financial system as a whole.

Customers and other stakeholders concerned can reach the following contact for more information from Monday – Friday between the hours of 9:00am and 4:00pm:

The Director
Other Financial Institutions Supervision Department
2nd Floor, Main Bank Building
Bank of Sierra Leone.

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Abu Bakarr Tarawally is a Journalist based in Freetown. He works for the Sierra Leone Broadcasting Corporation as a radio producer. He has once served as Editor for a few newspapers in Freetown, including Sierra Express Media, The Exclusive Newspaper and his own newspaper, the Daily Express Publications. He is a teacher trainer, and loves writing and reading a lot. Email: abstarawally@gmail.com. Call +232 88601277 or +2327661303.

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