2024-05-17 13:25:04
For 2 years, the Central African Inventory Trade (BVMAC) has been rocked by an unprecedented scandal. On the coronary heart of the affair, a dispute between the Managing Director (DG) and his former Administrative and Monetary Director (DAF), all of a sudden dismissed beneath murky situations.
A nighttime break-in on the origin of the scandal
On June 23, 2022, an astonishing occasion occurred on the BVMAC premises. The CEO is caught in the midst of the night time forcing the door of his DAF’s workplace, in his absence. Caught within the act, he nonetheless prevents his colleague from accessing his personal workplace the following day, going as far as to alter the lock. Within the course of, the CEO initiated dismissal proceedings towards his DAF, in disregard of the fundamental guidelines of labor legislation.
Brutal dismissal and critical accusations
From June 24, the DAF was notified of his suspension and his ban on entry to the BVMAC premises, with out the slightest rationalization. It was solely on August 11, 2022, when he submitted his dismissal letter, that he found the grievances towards him. In accordance with an alleged audit report from the Deloitte agency, he was responsible of “critical errors” et “acts not in conformity with monetary orthodoxy”inflicting a “colossal injury” to the establishment. Extraordinarily critical accusations, which the ex-DAF found with amazement.
A phantom audit and baseless accusations
Surprised by these allegations, the previous CFO instantly requested to seek the advice of the well-known audit report, of which he was by no means conscious. Categorical refusal from administration. Confronted with what quantities to a denial of justice, he decides to refer the matter to the Cameroonian authorities for arbitration. An extended standoff adopted, marked by the incomprehensible silence of the DG, who was sluggish to offer the damning report. When he lastly deigns to transmit it to the authorities, in September 2023, it’s to make new delusional accusations towards his former collaborator, this time accused of “ financial crimes » and of “misappropriation of tons of of tens of millions of FCFA« .
The Deloitte report empties the abscess
We must wait till January 2024 for the previous DAF to lastly receive a duplicate of the long-awaited report. And the least we will say is that its content material is edifying to say the least. Not solely does Deloitte deny having carried out any audit, however as well as, the doc doesn’t comprise the slightest hint of the accusations made by the CEO, whether or not within the dismissal letter or in the course of the confrontation earlier than the authorities . In different phrases, the CEO of the BVMAC would have fabricated this case to do away with his DAF.
The previous DAF calls for justice and reparation
Constructing on these damning revelations, the previous DAF has since multiplied appeals to acquire justice and clear his honor. Demanding the return of his private results, unduly confiscated for 2 years, in addition to a overview of the situations of his unfair dismissal, he contacted the administration our bodies of BVMAC, the shareholders and the Cameroonian authorities in flip. In useless, to date. Bringing this scandal into the general public enviornment, he hopes to lastly win his case and be cleared of the notorious accusations he has been the topic of for 2 years.
The deafening silence of the governing our bodies
However probably the most disturbing factor on this affair is the inertia of the BVMAC’s governing our bodies, who appear to place up with the strategies of their CEO, that are, to say the least, expeditious. By sustaining its belief in a supervisor caught within the act of abuse of energy, is the governance of the Inventory Trade not making itself complicit on this try to “skilled assassination », to make use of the phrases of the previous DAF? Can it to this extent flout the values of ethics, rigor and duty alleged to information the motion of this important establishment for the monetary markets of the CEMAC zone? Questions price asking.
An anticipated arbitration and essential points
Decided to see his combat via to the tip, the ex-DAF of BVMAC submitted a request for arbitration to the Cameroonian authorities. A call is anticipated within the coming weeks, which may set a precedent in issues of unfair dismissal and compensation for skilled injury. Past this private case, the query of the governance of economic establishments within the CEMAC zone is raised. How can we assure the arrogance of financial gamers and buyers if the leaders of those establishments can flout probably the most fundamental guidelines of legislation and ethics with such impunity?
A scandal to observe intently
Whereas ready for the epilogue of this authorized drama, one factor is definite: the scandal which has shaken the BVMAC for 2 years is much from having revealed all its secrets and techniques. Between the grey areas that stay on the precise function of the CEO on this affair and the deafening silence of the governing our bodies, it’s a protected guess that new developments won’t fail to happen within the weeks to come back. A case to be adopted very intently, because the stakes for the credibility and way forward for the Central African Inventory Trade appear essential. As at all times, our editorial staff will probably be on the entrance line to tell you of the most recent developments on this burning subject.