Tuesday, 14 June 2016

BICEC addresses suspected fraudulent financial transactions at the bank

In March 2016 Business in Cameroon and other news outlets reported that the Cameroon International Bank of Savings and Credit (BICEC), local subsidiary of the French Group Banque Populaire (BPCE), was actively looking for Mr. Samuel Ngando Mbongué, who occupied the position of Director of Accounts and Treasury within this banking institution until he disappeared.

According to the reports, the BICEC senior official disappeared on 29 February 2016. Internal sources at the bank told Business in Cameroon that the bank had opened an internal inquiry in order to clarify some incoherence observed in the bank's accounts some weeks before Mr. Samuel Ngando Mbongué's disappeared.

According to revelations in the Cameroonian Daily of 7 March 2016, Samuel Ngando Mbongué is suspected of "fraud in the acquisition or sale of fixed assets", for an amount of about FCfa 3 billion.

On March 9 2016, BICEC issued an official statement (below) confirming the suspected fraudulent financial transactions at the bank as widely reported by the media. According to the statement an investigation is currently being carried out. Read full statement below... 

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