The State of Cameroon wants to recapitalize two private banks to the tune of nearly 47 billion FCFA. These are Union Bank of Cameroon (UBC) and National Financial Credit (NFC

The two banking institutions have been in difficulty since 2009, according to the Ecomatin newspaper. The publication quotes a letter sent to this effect on February 18, 2021, to the Secretary General of the Prime Minister's Services, Séraphin Fouda, by Ferdinand Ngoh Ngoh, the Secretary General of the Presidency of the Republic

“I have the honor to announce that the President of the Republic authorizes the State to assume the cost of restructuring up to an amount not exceeding 29.1 billion FCFA for National Financial Credit (NFC Bank) and 17.8 billion FCFA for Union Bank of Cameroon (UBC),” writes Ferdinand Ngoh Ngoh.

These recapitalizations confirm the purchase of the liabilities and assets of these two private banks. The Cameroonian State thus intends to avoid the liquidation of these two credit institutions