CAMEROON : APECCAM accuses CDEC of disrupting banking sector activities

(LVDE) – In a letter dated October 6, 2025, addressed to the Central African Banking Commission (COBAC), the Professional Association of Credit Institutions of Cameroon (APECCAM) denounced growing tensions between the Caisse des Dépôts et Consignations (CDEC) and the Cameroonian banking sector, warning that these conflicts could jeopardize the country’s financial stability. The accusations center on complaints and seizures that have further strained an already fragile situation.

The Cameroonian banking industry is facing mounting uncertainty, worsened by the controversial actions of the CDEC. In her letter to COBAC, APECCAM’s president, Gwendoline Abunaw, voiced concerns over an imminent risk of crisis. The CDEC is accused of initiating legal actions for alleged misappropriation of public funds against bank executives and of carrying out asset seizures amounting to several billion CFA francs from credit institutions.

For several months now, the CDEC has not only taken legal action but also sent threatening letters to the parent companies of international banks, creating panic within the sector. The complaints filed and the coercive measures employed by the CDEC have raised serious concerns about public confidence in the Cameroonian banking system. The CDEC’s actions are perceived as attempts to recover funds it claims belong to the state—particularly dormant assets linked to inactive accounts.

Amid this climate of mistrust, COBAC has taken steps to draft a community-wide regulation to standardize the management of dormant assets. This process, which gained urgency in 2024, aims to protect depositors and facilitate the transfer of funds to the various Caisses des Dépôts et Consignations. In July 2025, the Ministerial Committee of the Central African Monetary Union (UMAC) adopted key regulations governing the conditions of operation and supervision of such institutions. These rules, effective since September 2025, require credit institutions to monitor inactive accounts and transfer dormant funds accordingly.

Nevertheless, the CDEC has continued to pursue legal actions, seemingly disregarding these new regulations. This has raised serious questions, especially as such initiatives could undermine the credibility of the national banking system. In fact, the president of COBAC, in an official letter, reminded the CDEC that some of its actions contradict current legal provisions.

Beyond the issue of dormant assets, APECCAM’s president also highlighted another major concern: recent CDEC demands for performance bonds in public procurement contracts. These requirements are viewed as inappropriate and inconsistent with existing standards, posing additional liquidity and cash management challenges for credit institutions.

Pressure on the banking sector continues to mount as credit institutions struggle to comply with new regulatory demands. In May 2025, COBAC instructed banks to report the volume of dormant assets to be transferred to the CDEC, threatening penalties for non-compliance. This climate of uncertainty is hindering the efficient functioning of banks and casting doubt on their long-term viability.

In an effort to de-escalate tensions and ensure stability and trust in the financial system, COBAC, in a correspondence dated October 22, 2025, requested the intervention of the National Monetary Authority (the Minister of Finance) to restore calm in the now chaotic sector.

As Cameroon strives to stabilize its economic environment, stakeholders in the banking industry are desperately calling for swift and effective solutions to prevent a collapse in confidence—an essential pillar of economic growth.

If unresolved, these challenges could have severe repercussions not only for banks but for the entire Cameroonian economy. Restoring trust and stability in the financial system has thus become critical to ensuring a sound and prosperous financial future for Cameroon.

Raphael Mforlem