NEPS-IIPS Directive on Routing Government Revenue and G2P Payments

CENTRAL BANK OF LIBERIA :
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EG 0010890
OFFICE OF THE EXECUTIVE GOVERNOR
DIRECTIVE ON THE ROUTING OF GOVERNMENT REVENUE COLLECTIONS AN D GOVERNMENT.TO-PERSON PAYMENTS THROUGH THE NATIONAL ELECTRONIC PAYMENT SUUITCH (N EPs/llPS) DTRECTTVE NO. CBUE-GOV /D\WOO2/2025 ISSUED ON SEPTEMBER 23,2025

1. Authority
   ln exercise of the powers conferred upon the Central Bank of Liberia (CBL) under:
   . The Amendment and Restatement of the Act Establishing the Central Bank of Liberia 1999 to promote digital financial services and to regulate, monitor and supervise the payment, clearing and settlement system of financial institutions and non-bank financial institutions as well as non-bank financial services institutions. . The New Financial lnstitutions Act, 1999; Part lV Sections 24 &- 33, Delivery of Returns to the Central Bank and Record Keeping and Deposits and Withdrawals, respectively. . An Act Adopting the New Payments System Law of Liberia, 2014, to establish and designate sYstems. . Service Level Agreement (SLA) between the Government of Liberia (CoL) and the CBL (September 11,2024). The Central Bank of Liberia hereby issues the following Directive.

2. Mandate
   Government-to-Person (G2P) Payments: Having reached an understanding and agreement with the Ministry of Finance and Development Planning (MFDP), as contained in the Service Level Agreement (SLA) signed between the CBL and MFDP, effective October 27, 2025, all Government of Liberia payments to beneficiaries conducted via mobile money (including salaries, pensions, social benefits, and other transfers) shall be routed exclusively through the National Electronic Payment Switch/lnclusive lnstant Payment Systems (NEPS/ilPS). Person-to-Government (P2G) Collections: Effective December 1, 2025, all Government of Liberia revenue collections via mobile money (including taxes, fees, levies, and related charges) shall be routed exclusively through N EPS/llPS. Mobile Money Providers (MMPs) are prohibited from processing G2P or P2G transactions outside of NEPS after the above effective dates.

3. Settlement of all government-related mobile money transactions shall
   occur in settlement accounts and credited seamlessly to the GOL consolidated Revenue Accounts held at the CBL in accordance with NEPS Participation Rules and the PFM Act, respectively.

4. Purpose of the Directive
   This Directive is issued to:
   . Promote fiscal transparency by centralizing all government revenue inflows and outflows. . Strengthen pUblic financial management and reduce leakages. . Enhance efficiency through automated clearing and settlement at CBL- . Ensure a level playing field among mobile money and other digital financial services Providers. . Align Liberia's payments ecosystem with international best practices. 1. 2. 3.

5. Scope and Applicability
   This Directive applies to:
   . All licensed Mobile Money Providers (MMPs).
   . All Bank Financial lnstitutions participating in NEPS/IlP5. . All GoL ministries, agencies, and commissions authorized to disburse payments or collect revenues.

6. Compliance and Enforcement
   All covered institutions must:
   . complete technical integration with NEPs/llPS within timelines prescribed by the CBL. . Ensure that all G2P and P2G transactions are routed through NEPS/IIPS from the effective dates. Failure to comply will attract regulatory sanctions under An Act Adopting the New Payment Systems Law of Liberia, 2014 and the Mobile Money Regulations,2Ol4, including fines, suspension of services, or license revocation in accordance with the due process of law.

7. Review and Monitoring
   The CBL will monitor the implementation of this Directive and may issue additional guidelines, including technical standards, reporting requirements, and pricing policies, to ensure compliance and alignment with the national payment system objectives. Executive Governor