CamCCUL, Credit Unions Crisis: Mafia Infiltration Feared as Intrigues Intensify

Following a ban on public meetings and activities of the Cameroon Credit Cooperative Union League-CAMCCUL and its affiliated credit unions by North West Governor Abakar Ahamat, it is feared that a mafia network maybe scheming to take over the management of the union. Last February 13, 2012, North West Governor said that following a decision by the Minister of Finance, Alamine Mey, all elections have been suspended nationwide till further notice. However, it should be recalled that North West Governor issued the decision suspending all public meetings and activities of CAMCCUL and affiliates on February 3, 2012 a day to the date the Bamenda Police Cooperative Credit Union-BAPCCUL had announced its elective General Assembly, February 4, 2012 at the Bamenda Congress Hall. Yet, Governor Abakar Ahamat announced that he decided to slam the ban on CAMCCUL due to some violations of the law of 1992 by officials of CAMCCUL and following complaints and security threats. He also added that the decision was taken after consulting the hierarchy.  Notwithstanding, Governor Abakar Ahamat allowed himself to be diverted from the main issue which was the manipulation of the constitution to listen to trivial issues masterminded by a group of self-centered individuals based in Bamenda town. The most pathetic thing that transpired during that meeting which some members expressed fear was that a group of people who had been feeding the administration with distorted and fake information stormed the meeting and succeeded in diverting issues. Seemingly, a mafia seems waxing behind the controversy to take over the savings of the poor. It is alleged that majority of those who have been fanning the crisis are members with delinquent loans. More so, instead of debating on the issue of the change of constitution as recommended by COBAC and OHADA LAW, the intrigues and arguments were instead centered on tribal tendencies. It was strange  when North West Governor even voiced out that he was aware that buses transported BAPCCUL members from Nkambe to Bamenda as if to say the BAPCCUL branch in Nkambe does not have members or it members based in Nkambe are not suppose to attend BAPCCUL meetings. Besides, Governor Abakar Ahamat also gave room to some overzealous members to question why CAMCCUL building was being constructed in Nkambe whereas it is the only chapter in the North West Region that had no office of its own. It was strange indeed that some members of the Credit Union even went as far as asking CamCCUL President Musa Shey Nfor to resign as if they constituted the board. However, the most intriguing thing was that out of the 20 members that spoke during the meeting at MINEPAT hall, approximately 90% of them were from Azire Credit Union.

To cut the story short, following article 9 of the OHADA Treaty once a law is adopted it is not subjected to any ratification. In the case of the 1992 which Governor Abakar Ahamat argued that it has not been impeached, it is therefore clear that the OHADA LAW on cooperatives and Credit Union must change existing policies and by laws, organize elections and put in place new officials and structures as well to suit changes. It was astonishing that some members went as far as asking the Governor to set up an ad hoc committee as if to say the present President was appointed by government.

It is obvious that there are some problems plaguing the credit union and CamCCUL such as the real estate investments which many fear with Oceanic Bank taken over in some countries by ECObank, credit unions may face liquidity problems. Besides, members are still expecting that CamCCUL officials should explain how by changing the constitution, it will reinforce its functioning. It should be noted that one of the major problems in group dynamics has been the constant changes in leadership. Many associations and cooperatives have died because once someone is empowered to a certain level, he/she is voted out and a new leader comes in without or with little knowledge on issues.

Uncertainty now looms ahead of the decision by the Minister of Finance to suspend all elections within CamCULL network. Classified sources hinted that the mafia group has no other intention than to hock-wing peoples’ savings and to auction CamCCUL to government. Even though the poor people’s bank seems to have changed its role, anyone scheming to kill the credit union movement in Cameroon for personal or selfish interest would be considered as being in a state of sin. 

Killing the Anglophone Dream

At press time, classified sources linked to the ministry of finance in Yaounde hinted that a team from that Ministry has been dispatch to Bamenda to look into the crisis in CamCCUL and its affiliates. According to the hint, the team will meet some members of the credit union as well as board members of CamCCUL. Our source further revealed that plans are underway for some people to instigate that a vote of no confidence is passed on the present leadership of CamCCUL to frustrate the move by Musa Shey Nfor to modernize the credit union movement in Cameroon. And if it happens, it is alleged that perpetual debtors of the Credit Union will scheme to the top. Being delinquent and poor managers, indicators are rife that it will mean the collapse of the credit union because it will be transformed into an extraordinary affair where members will be reduced to naught. The crisis according to what we gathered ignited not from the change of constitution which is in conformity with the COBAC law as well as the OHADA laws; it is simply that a group of people want to take the credit union hostage. And that they want to take cover behind North WEST Governor to execute their plan. At this stage, the savings of the old mothers and fathers in villages might not be secured because if you cannot manage 100 FCFA it will not be millions that you can manage.