2024-02-10 22:06:18
Complicated end of mandate at the Central Bank of Central Africa (BEAC). Its governor Abbas Mahamat Tolli refuses to leave his post despite the expiration of his functions on February 5, 2023. A mess which says a lot about the tensions at the top of the sub-regional institution.
The transfer of power turns into a standoff at the BEAC. Arriving at the official end of his mandate as governor on February 5, Abbas Mahamat Tolli continues to occupy his chair on the sly, in defiance of the texts in force.
A possible interim before the arrival of a new governor
However, the BEAC regulations are formal: the end of the governor’s mandate is not subject to the appointment of his successor by the Conference of CEMAC Heads of State.
The institution having a collegial government, the other five members can ensure business continuity while awaiting the inauguration of the next governor. Which was already the case in the past.
A unilateral decision which questions
Hence the incomprehension of Abbas Mahamat Tolli’s stubbornness in squatting in his chair, going against the texts and the good institutional functioning of the BEAC.
Especially since this unilateral decision contrasts with the proper departure of Director General of Studies Ivan Bacale, whose mandate has also expired. Enough to cause trouble within the venerable sub-regional institution.
Towards an open crisis at the BEAC summit?
It is difficult not to see this as a worrying signal of personal distrust from the outgoing governor towards the highest authorities of CEMAC. By refusing to comply with common rules, Abbas Mahamat Tolli clearly threatens the stability of the functioning of the BEAC.
His open disobedience raises the question of his legitimacy to commit the monetary institution beyond the end of his contract. Enough to plunge the sub-regional Central Bank into a statutory crisis with serious consequences. How far will this standoff at the top go? To be continued…