CDEC Clashes with BEAC, COBAC Over Deposit Supervision in Cameroon BODY: YAOUNDE, Cameroon – The Caisse des Dépôts et Consignations du Cameroun (CDEC) finds itself in a contentious standoff with the Central Bank of West African States (BEAC) and the Central Bank of Central African States (COBAC) as it challenges the expansion of their supervisory jurisdiction over deposit and consignment funds (CDCs) within the region. Amidst ongoing disagreements, a series of meetings have thus far failed to reach a consensus, culminating in the third and final session on April 17, 2025.
The crux of the conflict centers on the BEAC and COBAC’s ambition to extend their oversight over CDCs, a move that the CDEC in Cameroon has strongly opposed. Despite the legal challenge mounted by the CDEC against the community regulation, which places certain deposit bank activities under COBAC’s supervision, the BEAC and COBAC appear poised to unilaterally implement their regulations, indicating a disregard for the ongoing negotiations.
The Governor of the BEAC had initiated a working group to mediate the dispute; however, no agreement was struck by the end of the final meeting.
The CDEC’s Director General announced that the BEAC and COBAC intended to adopt their regulations unilaterally, a move seen as an attempt to circumvent the current negotiations.
The lawsuit filed by the CDEC questions the legal framework governing the region’s financial institutions, with the Director General, Richard Evina Obam, advocating for a strict stance, emphasizing the CDEC’s role in economic sovereignty.
The dispute underscores the intricate relationship between national laws and regional community standards. While the BEAC and COBAC argue that their expanded supervisory powers are essential for maintaining financial stability and adhering to regional regulations, the CDEC asserts that the proposed regulations encroach upon the principle of equality and the autonomy of national institutions.
The situation remains volatile, with both parties entrenched in their respective positions.
The unfolding dispute over supervisory authority over CDCs has significant implications for the region’s financial institutions and the broader regional economy.
The outcome of the legal challenge and the BEAC and COBAC’s willingness to engage in constructive dialogue with the CDEC are crucial to determining the future course of this ongoing conflict.
The resolution of this dispute could have far — reaching consequences for the regulatory landscape of the Central African Economic and Monetary Community (CEMAC) region, potentially impacting the stability and efficiency of the region’s banking system.
Sources: Tribune, Investir au Cameroun, actucameroun. Info, leconomie.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
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