Sani Yaya, the Togolese Minister of Finance created, by order, a “committee responsible for monitoring the repayments of funds collected by structures illegally carrying out monetary and financial activities”. This committee will ensure that the structures reimburse their members

On March 26, Minister of Economy and Finance Sani Yaya banned high-risk investment structures that trick investors with promises of unrealistic returns. To subject illegal traders to effective reimbursement, he issued an order that will “organize meetings with the heads of the structures concerned, carry out missions to verify these structures, assess their financial situation and assets, and decide on the terms of repayment of the funds collected”. The committee will be composed of representatives of the Directorate-General for Economic Studies and Analysis, the Directorate-General for Treasury and Public Accountancy, the Central Bank of West African States (BCEAO), the General Inspectorate of Finance, the Support and Monitoring Unit for Microfinance, Savings and Credit Institutions (CAS-IMEC), and the Legal Unit of the Ministry of Finance Economy and finance. In accordance with article 3 of the decree, the committee will be chaired by the Secretary General of the Ministry of Economy and Finance. In his mission, he will be supported by a technical team, notes the Togo First site.