20 Maloti

The P#12 series spans a politically turbulent stretch for Lesotho — the 1990 military coup that deposed King Moshoeshoe II and replaced him with his son, crowned as King Letsie III, fell squarely within this note's issue window. The Central Bank continued operating through the transition without interruption, which accounts for the long signature run across the series.

E.R. Sekhonyana served as Minister of Finance before moving to the governorship, an unusual crossover that reflected how tightly the palace and the bank's leadership were bound during this period.