No editorial checks on this article yet

This article is not approvedThe content of this article is not verified by the editorial team of Africanews.com. Read our editorial requirements to see the criteria we use to decide if we publish an article on the homepage of Africanews.

Cameroon: BEAC Accuses Finance Officials Of Forgery

  1. Posted on Saturday 13 June 2009 - 20:18
    Mforgham
    Image of Mforgham
    Solomon Tembang Mforgham

    The Bank of Central African States, BEAC, has accused finance official of Cameroon of flooding the Central bank with fake bank notes worth billions of FCFA.

    The revelation was made recently in Yaounde at the opening on a training seminar to acquaint finance officials with new technologies to detect fake Bank notes.

    According to the Director General of Treasury, Amadou Zambo, it was a shame and scandal that finance officials are being accused of being accomplices to a financial racket that infiltrated billions of fake bank notes into the Central Bank.
    He said hierarchy assumed that such fake infiltration could have been errors due the complexity at times in detecting valid bank notes. The treasury boss who presided over the ceremony said the seminar was therefore geared at acquainting finance officials with new technologies of detecting fake bank notes so that such errors should no longer be committed.

    However, BEAC officials reiterate that there was no element of error in the deal because treasury offices have been provided with fake notes detection devices. More so it was an unprecedented action which could have only been successful with the deliberate complicity of some top officials in the Ministry of Finance.

    Meanwhile, some officials in the Ministry of Finance alleged that the President of the Republic was so scandalised with the report that he has ordered for immediate investigation into the matter.

    Accordingly, stringent measures have for quite some time now been taken to nip all illegal financial transactions in the Ministry of Finance.
    One of such measures, a senior official is quoted as saying, is the abolition of the circulation of liquid cash.

    All transactions are hence done through bank transfers. But as Chinua Achebe said in one of his novels, if men learn to shoot without missing birds too will learn to fly without perching.

    So some senior finance officials, it is alleged pulled, a smart one on the Central Bank by surreptitiously replacing valid notes with fake ones from men of the underworld.

Latest News

  1. OPINION: Welcome to African Green Revolution24/05For the past century and a half, Africa has tried various agricultural approaches without much success.
  2. Egyptians vote in historic election23/05Egyptians began voting freely on Wednesday for the first time to pick their president in a wide open election that pits Islamists against men who serv…
  3. Africa Day 2012 - a moment for reflection and…22/0525th May is Africa Day. For many years it has been a celebration of African unity. It dates back to 1963 when the Organisation of African Unity (OAU) …
  4. South Africa's African agenda21/05The Deputy President of the Republic of South Africa, Kgalema Mothlanthe paid a rare visit to Ghana in April at the invitation of John Dramani Mahama …
  5. Women struggle to rinse hunger, poverty stains21/05Just looking at her one clearly appreciates that she is old and frail therefore in need of support for food, clothing and shelter to live comfortably …
  6. Climate Climate change affects migratory birds…21/05Changes in the climate globally have affected the movement of both migratory and resident species of birds, Nature Uganda has said.
  7. Ghana: Foreign retailers cited for currency…18/05The Ghana Union of Traders Association (GUTA) is attributing the sharp depreciation of the Ghana cedi against major currencies to the illegal activiti…
  8. Kenya: Community radio brings succour to…18/05Korogocho, a slum in northeastern Nairobi with 100,000 inhabitants, had many of the ingredients for a political explosion similar to those that rocked…
  9. Veld fires 'flame' Zimbabwe's…16/05Over the years, Zimbabwe has experienced the scourge of veld fires destroying property worth thousands of dollars.
  10. Liberia commends ECOWAS for support14/05The induction training of pioneer Economic Community of West African States (ECOWAS) Volunteers for Liberia kicked off in Monrovia, with the Deputy Mi…
  11. Vanishing Lake Chad puts 30m lives at risk14/05As you approach the Lake Chad basin from Maiduguri, in north-eastern Nigeria, the evidence of despair is telling.
  12. Heavy rains cause havoc in Kenya14/05Heavy Rainfall continued to wreak havoc across the country leading to the suspension of relief food in some parts of the country as most roads in Turk…
  13. Zimbabwe: Growth points lie dormant14/05The Zimbabwean government mooted the concept of growth points in the 1980s as a means of decongesting cities and towns.
  14. Sierra Leone improves in infant mortality11/05Sierra Leone has improved in infant mortality cases according to Save the Children- World Motherhood index 2012 report. The West Africa country descri…
  15. Zimbabwe: Resettled farmers fail to utilize…10/05Resettled farmers in Zimbabwe are failing to utilize land due to inadequate farming inputs and lack of resources.
News archive