MONROVIA, Liberia – May 12, 2026
The National Insurance Corporation of Liberia (NICOL), in partnership with the Civil Service Agency (CSA) and International Bank (Liberia) Limited (IBLL), has signed a landmark Memorandum of Understanding aimed at providing affordable vehicle insurance coverage for government employees through a flexible salary deduction arrangement.
The agreement, signed Tuesday May 12, 2026, at the Ministry of Information in Monrovia, establishes a financing mechanism under the Government’s Legal Power of Attorney (LPA) Scheme, allowing civil servants to obtain vehicle insurance coverage and repay the cost gradually over six months through payroll deductions.
Under the arrangement, NICOL will provide vehicle insurance services to eligible government employees, while International Bank (Liberia) Limited will facilitate payment and credit administration through a dedicated operational account. The Government of Liberia, through the Civil Service Agency, will coordinate employee participation and ensure repayment through authorized payroll deductions.
Speaking at the signing ceremony, NICOL Acting Managing Director Hon. Abdullah S. Swaray called the partnership “historic” and said it reflects President Joseph Boakai’s commitment to improving the welfare of Liberian workers.
“Today is a very historic day and this signing ceremony exemplifies the President’s commitment to seeking the welfare of Liberians, especially civil servants,” Swaray said.
He praised CSA Director-General Dr. Josiah F. Joekai, Jr. for leading reforms within the civil service sector and emphasized that government employees are among the country’s greatest assets.
“We believe that the biggest asset government has is the employees. NICOL has partnered with the CSA and International Bank not just to provide financial security, but peace of mind,” he stated.
Under the new arrangement, civil servants will no longer be required to make full upfront payments for vehicle insurance. Swaray explained that employees can now enroll through their Human Resource Offices under the Legal Power of Attorney or LPA system and spread payments over six months.
“If your vehicle insurance is US$175, you simply divide that by six. That is the amount you pay monthly,” he explained.
Swaray also disclosed that insurance penetration in Liberia remains below one percent and said the initiative is intended to increase awareness and access to insurance services across the country.
“This initiative is geared toward improving insurance penetration while providing protection and peace of mind,” he added.
For his part, CSA Director-General Dr. Josiah Joekai, Jr. announced that the insurance credit line officially opens next Monday, May 18, 2026 for employees of all 109 government ministries and agencies enrolled in the LPA system.
“As an employee of any government ministry or agency, you can ask your HR office to issue you credit, proceed to NICOL, and obtain your insurance policy,” Joekai said.
He stressed that regardless of the insurance cost, employees will have six months to complete repayment.
Dr. Joekai also highlighted the growth of the automated LPA platform, revealing that participation has increased from about 4,000 employees in 2024 to more than 9,000 employees today, while transaction values have grown from under US$100,000 to more than US$400,000.
“When we sign this agreement today with NICOL, the number of vendors on the platform will increase,” he noted.
Meanwhile, International Bank (Liberia) Limited reaffirmed its commitment to supporting the Government of Liberia’s financial inclusion agenda.
Speaking on behalf of IBLL Chief Executive Officer Madam Jacqueline Williams-N’Tow, Compliance Manager, Kojo Weeks praised the CSA for driving innovation within the public sector.
“This partnership shall go a long way. We remain committed, as we have done over the past 66 years,” Weeks said.
The IBLL Compliance Manager further emphasized that despite having foreign ownership, International Bank Liberia (Limited) remains fully managed by Liberians and committed to national development and economic growth.
Officials say the partnership is expected to significantly increase the number of insured vehicles within the civil service community, strengthen compliance with Liberia’s insurance laws, and boost confidence in the country’s insurance and financial sectors.
