On May 30, 2023, the interim judge at the Douala Court of First Instance ordered the suspension of MTN Cameroon’s bank accounts. According to CNA, the case between the richest man in francophone sub-Saharan Africa Cameroonian Baba Ahmadou Danpullo, and MTN Cameroon, has been put to rest by the Cameroonian justice department. In the accord made on May 30, 2023, between Bestinver, a group of multi-billionaire Baba Danpullo, and the supposed Cameroonian subsidiaries (MTN, Chococam) of the South African Public Investment Corporate (PIC), the interim judge at the Douala Court of First Instance has castigated four banks operating in Cameroon to deposit a whooping sum of 143.9 billion FCFA belonging to the telecom operator of South African origin, MTN Cameroon in an escrow account. The four banks castigated are ECOBANK, SCB, UBA, and Afriliand First Bank. The Mobile Telecommunication Network company, under a 100 million FCFA penalty per day of delays since September, these four banks had already been opposing the execution of a previous court decision compelling them to deposit this amount in the said escrow account.
With the said decision made by the interim judge, MTN Cameroon was not ok with the decision made by the judge as they decry a legal disaster and termed it as an attempted robbery that does not honor Cameroon. According to MTN Cameroon’s lawyer,
“The judge declared the interventions of the liquidators of Bestinver South Africa and MTN inadmissible for lack of interest. While it is MTN’s money. So the precautionary seizure order – without validation by the trial judge – has become an enforceable title. The judge substituted the banks for the debtors. It’s just a disaster,” said the lawyer.
-
-
-
-
