TUCL Wants Private Sector Voice in NPL Reforms

By Lewis S. Teh

MONROVIA, Liberia, September 14, 2026 — Trade Union Congress of Liberia (TUCL) President Dominic Nimely has called for greater private-sector involvement in efforts to address non-performing loans, arguing that Liberian businesses should be directly involved in shaping policies intended to improve credit access and loan recovery.

Nimely said the Central Bank of Liberia, government, commercial banks and other stakeholders should engage businesses as partners in developing a national framework to reduce non-performing loans, commonly known as NPLs.

He spoke to reporters following the conclusion of the CBL’s National Non-Performing Loans Resolution Conference at the Ellen Johnson Sirleaf Ministerial Complex in Congo Town.

While welcoming the conference, Nimely said sustainable reforms would require the participation of borrowers and private-sector organizations from the beginning of the policy-making process.

“We are tired of being left outside. We are tired of being abandoned,” Nimely said. “It is a good thing for the government to come up with such an idea to go after loans, but we should have been part of the discussion from the onset.”

Nimely, who said he is also affiliated with the Liberia Business Association and Liberia Chamber of Commerce, argued that the conference theme, “Resolving Non-Performing Loans to Unlock Access to Finance for Private Sector Growth and Job Creation,” directly concerns Liberian entrepreneurs and businesses.

He said private-sector representatives should therefore have a stronger voice in discussions over how the country addresses loan defaults and expands access to credit.

Nimely also called for greater attention to the reasons businesses default on loans, arguing that efforts to recover outstanding debts should be accompanied by an examination of the lending conditions confronting borrowers.

He particularly criticized what he described as high interest rates charged by financial institutions, saying they make it difficult for Liberian businesses to borrow, invest and repay loans.

“You are not lending to us; you are killing us,” Nimely said, referring to lending rates he believes are burdensome for local entrepreneurs.

He urged the CBL and commercial banks to review lending conditions and explore measures that could make financing more accessible and sustainable for businesses.

Nimely also called on the judiciary to consider the circumstances surrounding loan defaults when handling disputes involving distressed borrowers, rather than focusing solely on the recovery of assets.

According to him, resolving Liberia’s NPL problem requires a balanced approach that protects the financial system while recognizing the challenges confronting businesses.

He advocated structured dialogue involving banks, borrowers, government agencies, the judiciary and private-sector organizations before major financial and economic policies are adopted.

“Government policies affecting businesses should not be developed behind closed doors and presented to entrepreneurs as finished decisions,” Nimely said. “We have to sit around the table. We have to disagree and agree before you come up with a framework to launch.”

He said consultations with businesses should begin well ahead of the introduction of new regulations, taxes, customs measures and financial policies that could affect private-sector operations.

Despite his concerns, Nimely commended the Boakai administration for what he described as efforts to give greater recognition to the private sector, including support for private-sector participation in national and international engagements.

“The little businessman is the backbone of every economy,” he said.

Nimely urged the government and CBL to deepen engagement with Liberian businesses to ensure that efforts to resolve NPLs ultimately result in improved access to credit, stronger businesses and increased employment opportunities.

The CBL convened the three-day National Non-Performing Loans Resolution Conference with representatives of government, the judiciary, commercial banks, development partners and regional institutions.

The conference focused on developing a national roadmap to reduce non-performing loans, strengthen Liberia’s credit infrastructure, and improve access to finance for private-sector growth and job creation.