Liberia: Govt Discusses Plan to Establish County Treasury in Maryland

24 March 2025
Liberian Observer (Monrovia)
By Edward D. Stemn

There is ongoing discussion regarding the establishment of the County Treasury in Maryland County, with decisions anticipated based on further assessments and stakeholder consultations to promote financial inclusion and economic development in the region.

A delegation comprising officials from various ministries, including the Ministry of Internal Affairs (MIA), the Ministry of Finance Development Planning (MFDP), the Liberia Revenue Authority (LRA), amongst others, visited the county to assess the feasibility of this initiative.

The proposal aims to decentralize financial services, enabling residents to access essential transactions locally without traveling to Monrovia.

Superintendent Henry Cole highlighted the potential benefits, emphasizing that a County Treasury could streamline financial processes, save time, and spur economic growth in the region.

Deputy Minister Selena P. Mappy discussed the revenue-sharing aspect, stating that a portion, about 40 percent, of the collected funds would stay in the county to support local development projects. This move aligns with the government's decentralization agenda, empowering local authorities to manage financial resources efficiently.

Natu Nyenwoe, Deputy Comptroller and Accountant General at the Treasury Services Unit, Ministry of Finance and Development Planning, outlined the mission to evaluate Maryland County's readiness for a treasury center. The envisioned County Treasury would serve as a centralized hub for financial services, potentially housing a sub-branch of the Central Bank.

She highlighted Maryland County's strategic assets and economic potential, emphasizing how a treasury center could attract investments and create employment opportunities.

She described the proposed County Treasury as a "one-stop center" that would house essential financial services, including a sub-branch of the Central Bank of Liberia, ensuring that residents can access funds without traveling to Monrovia.

Natu further emphasized Maryland County's strong case for hosting a treasury, citing its strategic assets such as the seaport, border crossing, and the presence of Tubman University. According to her, a county treasury would attract business investments and create job opportunities, as local staff would be recruited to manage the center.

Currently, four treasury centers are planned for Region Five of Liberia, and many hope that Maryland County could be among them.

While challenges such as internet connectivity and power supply were raised during the discussions, business leader Wade Dennis emphasized the importance of immediate financial services for residents.

Dennis urged authorities to ensure that while waiting for the full treasury center, the existing county service center should be made more effective to meet residents' immediate financial needs.

The treasury initiative is part of Finance Minister Augustine Kpehe Ngafuan's broader vision for decentralization, and he is keen to see it materialize.

The government aims to expand financial accessibility in rural areas through initiatives like the County Treasury, reflecting a broader vision for decentralization.

In a related development, Natu Nyenwoe strongly criticized the practices of commercial banks in the county, accusing them of unfairly withholding portions of civil servants' salaries. She insisted that civil servants must receive their full salaries, rather than being subjected to partial disbursements. This statement came in response to a participant's suggestion that, instead of bringing in the Central Bank, the government should empower existing commercial banks to provide better financial services.

The deliberations reflect growing efforts to decentralize financial services in Liberia, ensuring that citizens in rural counties have easier access to banking and economic opportunities. The final decision on the establishment of a County Treasury in Maryland County is expected to be based on further assessments and consultations with stakeholders

Read the original article on Liberian Observer.

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