The Caisse de Dépôts et de Consignations (CDEC) issued payment orders to BGFIBank Cameroon and Orange Money Cameroon on February 26, 2026, demanding 3.68 billion FCFA, including 3.58 billion as principal and 101 million in late interest. These amounts are related to a public contract for the rehabilitation of the Babajou–Bamenda road awarded to BOFAS Sarl in 2022.
The CDEC allows eight days for payment, failing which it will proceed to seize bank assets, shares, securities, movable property, and personal effects. This action follows the termination of BOFAS's contract by the Minister of Public Works in February 2024 for the company's failure. The State had paid an advance of more than 2.8 billion FCFA, secured by a guarantee from Afriland First Bank.
After the termination, the guarantees were not reimbursed, prompting the CDEC to activate forced recovery, involving financial third parties such as BGFIBank and Orange Money. The CDEC relies on the 2023 law on guarantees and recovery of public debts, which allows targeting holders of funds belonging to debtors. According to Article 49, third-party holders must pay the funds in place of the debtor, and Article 17 stipulates that refusal results in joint and several liability for payment.
In this case, BGFIBank and Orange Money are considered third-party holders of Afriland funds related to the guarantees for the execution of the contract. Afriland First Bank challenged the third-party notice in court, but the judge ruled himself incompetent. SCB Cameroon, having paid a guarantee of 10% of the amounts concerned, had its procedure suspended.
BOFAS also challenged the termination of its contract before the administrative judge, who ordered the suspension of the mobilization of the guarantee by the Ministry of Public Works. The CDEC believes that this suspension is not binding on it. The CDEC interprets the 2023 law as a more effective means of recovery in the event of non-compliance with guarantee commitments in public contracts.
The CDEC had already been at the center of controversies regarding the recovery of funds from banks, with reported tensions with COBAC. In November 2025, the CDEC was in conflict with several financial institutions regarding the transfer of public funds, even threatening forced recovery measures. In particular, the CDEC demanded that Afriland First Bank transfer more than 166 billion FCFA of public deposits.
In December 2025, the CDEC had suspended the forced recovery measures targeting MTN Cameroon's accounts held in the books of Afriland First Bank as part of the Bestinver case. This decision followed a tripartite meeting between the CDEC, MTN Cameroon, and Afriland First Bank.
The BOFAS case highlights the challenges related to guarantees in public contracts and the powers of the CDEC in terms of recovery. The next steps could include negotiations between the parties involved or additional legal actions.
