Executive Governor of the Central Bank of Liberia (CBL), Henry F. Saamoi, has declared that financial inclusion is no longer optional but a national obligation, as Liberia officially launched the Inclusive Instant Payment System (IIPS), a nationwide mobile money interoperability platform designed to ensure that every Liberian, regardless of location, income level, or banking status, can fully participate in the formal economy.
Speaking at the official launch ceremony on Tuesday, attended by President Joseph Nyuma Boakai, Sr., senior members of the 55th Legislature, Cabinet officials, leaders of the banking and telecommunications sectors, development partners, business associations, transport unions, and stakeholders from across the financial services community, Saamoi described the moment as a turning point in Liberia's financial history.
"Today marks a defining and transformative moment in Liberia's financial services history," Saamoi said. "With the launch of the Inclusive Instant Payment System - Mobile Money Interoperability, we take a bold and decisive step toward a modern digital financial economy where efficiency, transparency, and inclusion are no longer aspirations, but lived realities for every Liberian."
He stressed that the system was developed through rigorous work, deep collaboration, and evidence-based policymaking, informed by best practices across Africa and grounded in the successful completion of Liberia's pilot phase earlier this year.
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Referencing the State of Inclusive Instant Payment Systems 2025 Report, Saamoi noted that 25 African countries now operate domestic instant payment systems, with 36 such platforms active across the continent, processing billions of transactions annually and contributing directly to economic growth.
"These systems increase the velocity of money, reduce informal cash dependency, and support GDP growth," he said. "Liberia now joins this continental wave not as an observer, but as a participant and future contributor."
According to the CBL Governor, the Inclusive Instant Payment System is built on the principles of inclusivity, interoperability, and fairness, ensuring that the financial system serves urban and rural populations alike, including the banked, unbanked, underserved, and unserved.
"At the Central Bank of Liberia, our mandate is clear: to ensure that payment systems are safe, reliable, and inclusive," Saamoi said. "With IIPS, we have created a system that works for everyone, businesses and individuals alike."
For decades, Liberia's financial architecture has depended heavily on cash, a model Saamoi described as costly, risky, and inefficient. He said the launch of IIPS marks a decisive break from that past by enabling real-time, transparent, and low-cost transactions nationwide.
"For decades, Liberia's financial architecture relied heavily on cash," he said. "Today, we turn the page."
Saamoi explained that the system will strengthen public financial management, improve service delivery, and expand financial opportunities across all 15 counties, likening the platform to a digital highway that connects every Liberian to opportunity.
"Financial inclusion is not an option; it is an obligation," he emphasized. "Our vision is to bring every Liberian, especially the unbanked and underbanked, into the formal financial system."
One of the most immediate benefits of the new system, according to Saamoi, is its ability to transform government payments, including salaries, pensions, and social transfers, which will now be delivered instantly and transparently.
"This strengthens trust, reduces leakages, and ensures accountability," he said. "It is governance at its best, efficient, responsive, and people centered."
Addressing security concerns, Saamoi assured the public that the IIPS is built on state-of-the-art technology with robust cybersecurity protections.
"Trust is not given; it is earned," he said. "Your money, your data, your trust are sacred to us, and we have made security our highest priority."
He acknowledged that the system is the result of close collaboration among the Central Bank, commercial banks, mobile money operators, government institutions, and international development partners.
"Together, we have built a system that belongs to Liberia and serves Liberia," Saamoi said.
The CBL Governor described the national brand "Pay-Na-Na - Inclusive. Instant. Liberia." as a symbol of national ownership and a declaration of Liberia's readiness to lead in digital finance.
"This is more than a slogan," he said. "It tells the world that Liberia is ready."
Saamoi made clear that the launch represents only the first phase of Liberia's broader digital payments journey. The pilot phase currently supports Person-to-Person and Government-to-People transactions, while work is ongoing with the Liberia Revenue Authority to enable People-to-Government payments, including tax collections.
"We will scale up by incorporating commercial banks, fintech companies, and all digital service providers," he said. "We will introduce merchant payments, bill payments, and cross-border transactions."
Painting a picture of the system's real-world impact, Saamoi said the IIPS will empower farmers, teachers, nurses, market women, motorcyclists, taxi and bus drivers, and entrepreneurs to transact instantly and securely.
"That is the Liberia we are building," he said. "That is the promise of the Inclusive Instant Payment System."
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Calling on Liberians nationwide to embrace the platform, Saamoi urged citizens, businesses, and financial institutions to use and innovate on the system.
"Use the system. Trust the system. Innovate on the system," he appealed. "Let us make the Inclusive Instant Payment System not just a platform, but a movement."
Saamoi extended appreciation to development partners including the Gates Foundation, AfricaNenda, Mojaloop Foundation, ThitsaWorks, and the World Bank for supporting Liberia's progress toward a fully operational National Electronic Payment Switch that will enable a 24/7 open economy.
He also thanked Lonestar Cell MTN Mobile Money Corporation and Orange Money Liberia for committing to interoperability, commended the CBL Payment Systems Department for leading the initiative, and acknowledged President Boakai's leadership.
"Your question as to why Liberians were still carrying two phones to do mobile money transactions gave us the impetus to push this first phase of the National Electronic Payment Switch and get us over the finish line early," Saamoi said.
He concluded by reaffirming the Central Bank's commitment to building a resilient, inclusive, instant, and unmistakably Liberian financial system.
