His Excellency, President Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, The Chairpersons of the Senate and House Committees on Banking & Currency of the 55th Legislature, The Members of the Board of Governors, Deputy Governors and Staff of the Central Bank of Liberia, The Hon. Minister of Finance & Development Planning, Augustine Kpehe Ngafuan, and other members of cabinet here present, Development Partners, The President & Members of the Liberia Bankers Association, The CEOs of Lonestar Cell MTN Mobile Money Corporation & Orange Money Liberia, The President & Members of the Liberia Business Association, The President & Members of the Liberian Marketing Association, The Leaderships of the Kekeh & Motorcyclist Unions, Taxi & Bus Drivers, Yana Boys, Members of the Financial Services Community, Distinguished Guests, Ladies and Gentlemen:
Today marks a defining and transformative moment in Liberia’s financial services history. With the launch of the Inclusive Instant Payment System (IIPS) – Mobile Money Interoperability, we take a bold and decisive step towards a modern digital financial economy - one where efficiency, transparency, and inclusion are no longer aspirations, but lived realities for every Liberian. This moment is the culmination of rigorous work, deep collaboration, and evidence-based policymaking. It is informed by lessons from across Africa, as captured in the State of Inclusive Instant Payment Systems (SIIPS) 2025 Report, and grounded in the concrete achievements of Liberia’s own pilot phase, completed earlier this year. This is a milestone that speaks to our vision, our resolve, and our commitment to the people of Liberia.
Across Africa, instant payment systems are reshaping economies. According to SIIPS 2025 Report, 25 African countries now operate domestic instant payment systems with 36 Instant Payment Systems now operating in Africa, with billions of transactions processed annually. These systems have been proven to increase the velocity of money, reduce informal cash dependency, and, in many countries, contribute directly to GDP growth.
Liberia now joins this continental wave, not as an observer, but as a participant and future contributor. Our system reflects the principles of inclusivity, interoperability, and fairness. We are proud that Liberia is now stepping firmly onto this digital public infrastructure pathway.
At the Central Bank of Liberia, our mandate remains very clear: to ensure that payment systems are safe, reliable, and inclusive. With the IIPS, we fulfill that mandate. We have created a system that works for everyone — urban and rural, banked and unbanked, the served, the underserved and the unserved, businesses and individuals.
For decades, Liberia’s financial architecture has relied heavily on cash — a system that is costly, risky, and inefficient. Today, we turn the page. The IIPS represents a major upgrade to our financial infrastructure. It enables real-time transactions, reduces reliance on cash, and opens the door to innovation.
By providing real-time, transparent, and low-cost payment rails, IIPS strengthens public financial management, improves service delivery, and expands financial opportunities for Liberians across all 15 counties.
We are building an infrastructure that Liberians can rely on today and decades into the future.
We ask you to think of the Inclusive Instant Payment System as a digital highway—a road that connects every Liberian to opportunity. Just as physical roads link communities, this digital road links people, businesses, and government in a seamless network of trust and efficiency.
Financial inclusion is not an option; it is an obligation. Our vision is to bring every Liberian —especially the unbanked and underbanked, the unserved and the underserved—into the formal financial system. Through accessible digital channels, we empower citizens to save, transact, and invest. We give them the tools to participate fully in the economy.
At the Central Bank of Liberia, we believe that no Liberian should be left behind. No community should be excluded. No dream should be delayed because of distance or lack of access. This is the promise of the Inclusive Instant Payment System.
One of the most powerful features of the Inclusive Instant Payment System is its ability to transform government payments. Salaries, pensions, and social transfers will now be delivered instantly and transparently. This strengthens trust, reduces leakages, and ensures accountability. It is governance at its best — efficient, responsive, and people-centered.
At the Central Bank of Liberia, we know all too well that trust is not given, but rather earned. That is why the IIPS is built on the state-of-the-art technology with robust cybersecurity measures. It is designed to protect users and ensure uninterrupted service. In a world where digital threats are real, we have made security our highest priority. Your money, your data, your trust — these are sacred to us.
Let me hasten to acknowledge that this achievement is not the work of one institution. It is the product of collaboration—between the Central Bank, bank financial institutions, mobile money operators, government agencies, and development partners. Together, we have shown that partnership is the engine of progress. Together, we have built a system that belongs to Liberia and serves Liberia.
Our brand — Pay – Na Na - Inclusive. Instant. Liberia. — is more than a slogan. It is a statement of national ownership. It reflects our commitment to innovation, interoperability, and inclusion. It tells the world that Liberia is ready to lead in digital finance.
Let me be clear: this is only the beginning. The pilot phase, offering Person to Person (P2P) and Government to People (G2P) real time transactions, is the first step in a journey of transformation. The People to Government (P2G) enabling seamless payment of government taxes by the citizenry is currently ongoing with the LRA and we will scale up incorporating Commercial Banks, Fintech companies and all digital service providers along the payment value chain. We will introduce new use cases — merchant payments, bill payments, cross-border transactions. We will continue to innovate for Liberia’s digital future.
Imagine a Liberia where every farmer, every teacher, every nurse and hospital worker, every Motor Cycle & Kekeh rider, every market woman, every taxi and bus driver, every entrepreneur can transact instantly. Imagine a Liberia where businesses thrive, government payments are transparent, and citizens are empowered. That is the Liberia we are building. That is the promise of the Inclusive Instant Payment System.
So today, we call on all stakeholders — financial institutions, businesses, and citizens — to embrace this change. Use the system. Trust the system. Innovate on the system. Let us make the Inclusive Instant Payment System not just a platform, but a movement — a movement for inclusion, for empowerment, and for progress.
As we launch the Inclusive Instant Payment System, let us reaffirm our commitment to financial inclusion, to modernization, and to the prosperity of every Liberian. Together, we can build a financial system that is not only instant and inclusive, but truly transformative.
On behalf of the Board of Governors, Management and Staff of the Central Bank of Liberia, I extend sincere appreciations to our partners – the Gates, AfricaNenda, and Mojaloop Foundations, ThitsaWorks, and all participating institutions - for walking this path with us. To our World Bank partners, we acknowledge your support for giving us a lifeline to the deployment of a full and robust National Electronic Payment Switch (NEPS), that will ultimately enable a 24/7 open Liberian economy.
To Lonestar Cell MTN Mobile Money Corporation and Orange Money Liberia, we say thank you for taking this journey with us and for agreeing to never keep speech again.
To the staff of the Payment System Department, thank you for leading this effort and to every member staff of the CBL, thank you for your support.
To the President, we say thank. Your visionary leadership and your inquest to us as to why Liberians were still carrying two phones to do mobile money transactions give us the impetus to push this first phase of the National Electronic Payment Switch (NEPS) and to get us over the finish line this early.
May we continue to build a financial system that is resilient, stable, formidable, inclusive, instant and unmistakably Liberian.
MERRY CHRISTMAS and may God bless OUR PRESIDENT, bless the works of our hands and may God bless the Republic of Liberia.
Thank you.