Row between COBAC and Cameroon over forgotten assets

By Noela EBOB BISONG Reports say tension is rising between the Central African Banking Commission  known in its French acronym as COBAC and the government of Cameroon, over who keeps forgotten assets. Recall that these are finances which “sleep” in the coffers of financial institutions. COBAC, last July 11, issued an order to banks within the Central African region to freeze any transfer of such funds to the Caisse des Dépôts et Consignations du Cameroon (CDEC), after Cameroon had, last December 2023, taken measures to redirect these assets in to state funds. COBAC’s SG, Marcel Ondélé The government of Cameroon…