CAMEROON: Minister Tchiroma Makes another Startling Revelation about Suspended MIDA

The Minister of Communication Issa Tchiroma Bakary, has returned to the amount of money that was collected from inhabitants of Yaoundé by MIDA.

According to him, leaders of the Integration and Development Mission for Africa (MIDA) did not collect 12 but 18 billion CFA francs from their Cameroonian subscribers.

He made the revelation Monday, June 11, 2018 in Yaoundé several weeks after government announced that the group had collected the sum of 12 billion FCFA from its subscribers.

The Minister of Communication granted a press conference to take stock of this affair, which sparked public outrage last April. The government spokesman noted that he was far off when he announced that this NGO, whose activities were suspended about two months ago, had collected 12,798,825,000 CFA francs from 11,835 subscribers.

Issa Tchiroma said Monday: “In total, under the 7th and 8th waves of subscription, there was a sum of 18,807,452,000 CFA francs collected and corresponding to 17,301 subscribers for 1,504,594 shares subscribed. 3. 850. 442. 275 CFA francs were seized, which fixes the deficit in relation to the sum collected at 14,956,982,000 CFA francs”.

In court on May 17, the lawyers of the MIDA officials, arrested in connection with this case, clearly disputed the discrepancies between the sums collected and those found, insinuating that money had been stolen from the office of MIDA by the police dispatched to the scene immediately after the order by the Senior Divisional Officer for Mfoundi, suspending the activities of MIDA.

The registration exercise initiated by the administrative authorities was completed last week. Repayment of invested funds is expected to follow suit even though no official date has been announced for the repayment process.

This has reportedly kept subscribers in an anxious state while waiting.

The Minister of Communication also revealed that five officials of MIDA are still being sought after.