The Banking Commission of the West African Monetary Union (UMOA) published on Friday, February 6, 2026, the decisions adopted during its December 16–17, 2025 session. The regulator imposed disciplinary measures on the three banks for failing to comply with rules governing credit institutions within the union.
The Commission issued a formal reprimand to each of the three banks. The regulator also imposed financial penalties. The bank in Côte d’Ivoire received a fine of CFA151 million ($174,300). The banks in Niger and Togo each received fines of CFA300 million.
The Commission based the sanctions on Instruction No. 006-05-2018 of May 16, 2018, which defines the procedures for applying financial penalties to credit institutions within the UMOA area.
Focus on Identified Shortcomings
The Commission identified similar weaknesses across the three banks, although the scope and severity of non-compliance varied. The Commission cited deficiencies in anti-money laundering and counter-terrorism financing systems at the bank in Côte d’Ivoire. The Commission cited weaknesses in internal governance, risk management, and anti-money laundering and counter-terrorism compliance frameworks at the banks in Niger and Togo.
These sanctions indicate that some institutions struggle to meet compliance and risk management standards. Such shortcomings can erode investor confidence and constrain banks’ ability to attract deposits and external funding. Insufficient anti-money laundering and counter-terrorism financing controls can increase funding costs, as international partners incorporate higher risk premiums into their assessments.
The decision reflects active supervision of the regional banking sector by the UMOA Banking Commission. The measures underscore the urgency for banks to strengthen compliance and risk management practices while providing clear signals to policymakers and market participants.
Chamberline Moko
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Nigeria, Nestlé sign MoU for dairy training center in Abuja Center to train farmers in breeding, ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Cameroon LNG export revenue falls to CFA350.1 billion in 2025 Stable export volumes suggest decline driven by lower global prices LNG remains...
Cameroon invests CFA17 billion in palm oil production projects New plants, upgrades to boost output, farmer incomes, jobs Government-backed plan...
First Ukrainian agricultural hub in Africa launched in Ghana Project combines food aid with local processing and distribution Move signals push to...
Heineken to sell Bralima stake to Mauritius-based ELNA Holdings ELNA takes over operations; Heineken retains brands via licensing Deal aligns with...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...
MASA 2026 gathers artists and industry professionals from over 28 countries in Abidjan. The event features 99 performances across market and...