It has been revealed that highly placed officials of BICEC Bank Cameroun bought on paper over 450 service vehicles which were allocated to the Douala and Yaounde branches. The scandal of embezzling over 50 billion CFA francs has seen the arrest of four senior bankers currently detained at the New Bell Central prison in Douala.

Cameroon Intelligence Report understands that for over 12 years money was stolen out of the bank in an area where you least expected-that of faking the purchase of service cars and inflating the prices. We now know that in early 2016 and on the basis of accounting documents and purchase invoices, 150 service vehicles were assigned to the Yaounde office of BICEC while the main office in Douala had “only” 300. Financial crime experts have hinted that these cars only existed on paper.

The current audit has made it abundantly clear that no new car was ever delivered to the bank. The famous bills which emanated from a car dealer located beside the head office in Douala were crudely crafted with some amounts not specified.  The Bank is indeed run by a mafia network firmly established within BICEC.

By Rita Akana