The former boss of the Union Bank of Cameroon is being prosecuted instead of the bank for not having repaid on time a loan of more than 2 billion CFA francs received from the public treasury. He was summoned before the Special Criminal Court (TCS).

The former CEO of UBC is before the TCS for a “misappropriation of 2 billion F”. According to the facts reported by the weekly Kalara, the funds are embezzled on the instructions of the Technical Supervision Committee (CTS) chaired by the Secretary General of the Ministry of Finance (Minfi). The funds are made available to banks which can then grant loans to their clients for the financing of projects in the fertilizer sub-sector. Sanama Avit, the promoter of the Atlantic Agri-tech company being convalescent, the court postponed the hearing to allow him to fully recover his health. In fact, the boss of Atlantic Agri-tech is on trial alongside Mr. Akene Julius Ngwa, the former managing director of Union Bank of Cameroon.