• The UMOA Banking Commission sanctioned three banks in Côte d’Ivoire, Niger and Togo with disciplinary reprimands and fines.

• The regulator imposed fines of CFA151 million in Côte d’Ivoire and CFA300 million each in Niger and Togo.

• The Commission cited weaknesses in governance, risk management and anti-money laundering and counter-terrorism financing frameworks.

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