MONROVIA, Liberia – Central Bank of Liberia Executive Governor Henry F. Saamoi on Tuesday described the launch of the Inclusive Instant Payment System (IIPS) as a defining moment in Liberia’s financial history, saying the platform lays the foundation for a more transparent, efficient, and inclusive economy.
“With the launch of Pay Na-Na, efficiency, transparency, and inclusion are no longer aspirations—they are live realities,” Saamoi declared.
He said the system represents a decisive shift away from Liberia’s long-standing dependence on cash, which he described as costly, risky, and inefficient.
“For decades, Liberia relied heavily on cash,” Saamoi said. “Today, we turned the page.”
Saamoi explained that the IIPS enables real-time transactions across banks, mobile money operators, and other financial service providers, reducing delays that previously took hours or days.
He emphasized that Pay Na-Na is not a private monopoly but a national digital public infrastructure, owned by Liberia and regulated by the Central Bank.
A major highlight of his address was the disclosure that the system was deployed at no cost to the Government of Liberia, thanks to support from international partners including AfricaNenda, Mojaloop Foundation, ThitsaWorks, and the Gates Foundation.
“This is what partnership looks like,” Saamoi said. “Liberia benefits without mortgaging its future.”
He recounted how President Boakai personally pushed for interoperability, recalling a direct question from the President: “Why are Liberians carrying two phones just to send money?”
“That question became our mandate,” Saamoi said.
The Governor outlined future phases of the system, including merchant payments, tax collections, fintech integration, and potential cross-border transactions—developments he said would further position Liberia as a regional leader in digital finance.
He also addressed concerns about cybersecurity and consumer protection, assuring the public that the Central Bank has put safeguards in place to protect users and maintain trust in the system.
“Our brand, Pay Na-Na, is more than a slogan,” Saamoi said. “It is national ownership.”
He concluded by urging Liberians to adopt the platform and use it responsibly, stressing that technology alone cannot transform an economy without public trust and participation.
