On December 5, the Central African Banking Commission (Cobac) announced serious sanctions against the top management of Banque Atlantique Cameroun (BACM), a subsidiary of the Atlantic Financial Group (AFG) holding company. The CEMAC Court of Justice has just annulled these sanctions.

This order follows two appeals lodged with the Court on November 16, 2021 by Banque Atlantique Cameroun. The first appeal seeks the cancellation of all the sanctions (four in total) taken on August 27, 2021 by the Central African Banking Commission (COBAC) against BACM, while the second relates to the stay of execution of the decision to Cobac dismissing all the members of the Board of Directors of this bank. While waiting to respond to the appeal by which BACM requests the pure and simple cancellation of the COBAC sanctions against it, the CEMAC Court of Justice first orders the suspension of the decision dismissing the members of the Board of Directors of this credit institution.