RURAL INVESTMENT CREDIT SA:The General manager of RIC SA,a micro-finance with Headquarter in Baffoussam Western Region ,Mr ABIA Abenego is under detention at the Baffoussam Central prison for forgery

RURAL INVESTMENT CREDIT SA:Mr ABIA Abenego,a jurist by profession and  General manager of RIC SA, a micro-finance with Headquarter in Baffoussam, Western Region of Cameroon ,is under detention at the Baffoussam Central prison for forgery,illegal occupation of landed property and non execution of court order.

The arrest follow  series of court procedures that has lasted for several years between ALIVET CAMEROON COMPNAY L’TD(landlord),a company that deals in farming  and housing and Rural Investment Credit  SA(Tenant)

In brief,Rural Investment Credit  SA has been tenant for somany years now in a storey building that house the head offices of RIC .The initial owner of the storey building was BICEC Bank.In 2009, Bicec offered to sale the building to Rural Investment Cresit SA (Tenant) for 50,000,000FCFA whom Mr ABIA Abenego,the general manager of RIC SA could not afford to pay the price. Inte course of that,Bicec had no other option that to make the sale public,whom Alivet Company Cameroon came in as potential purchaser

On the 1st of December 2009,ALIVET CAMEROON COMPNAY L’TD bought the storey for 55.000.000 FCFA according to the correspondence below signed by Mr SYMBAFO Pierre Bertin,Head of legal affairs,Bicec informing Alivet Company Cameroon Limited that a sum of 55,000,000 FCFA(Fifty dive million francs CFA )was duly received and that Bicec Bank confirms the Memoradum of understanding for the sale of their storey building,land Titl e Number:8680/MIFI.

Immediately Mr Abia was aware of the transaction between Bicec Bank and Alivet Cameroon Company in 2009,he has not quit the building nor has paid rent for 12years now,but has instead engaged in forging the land title to his name,misleading the Minister of Land Tenure and State Property and illegally detention of property that does not belong to him.

It is yesterday,the 30th of June 2021 that Mr Abia ABENEGO  was finally arrested thanks to a College of lawyers then later,sent to the Baffoussam Central Prison immediately by the State Prosecutor of the Baffoussam Court of First Instance.If his guilty is still to be proven by the court,what is sure is that heart jail term awaits Mr Abia Abenego based on documents at our disposable..

Eventhough, Mr Abia owns the highest share in Rural Investment Company,one thing which is sure is that his detention will go a long way to affect activities of his Microfinance which will hence touch the customers.The present situation at hand is one of many that exist in Cameroon.If a jurist in the Calibar of Mr Abia can forge documents to his favor,refuse to pay rent for 12years then it is high time to question about the  credibility of Microfinance owners.

Given the fact that Mr Abia is a seasoned jusrist with relations at the level of Bar council as well as in the judicial system,his link with Yaounde can not be minimised neither.

Consequences

Someone close to Alivet Cameroon told us that Alivet is claiming 12years of court procedures, 12years of non return on investment made by ALIVET Cameroon which has caused them a financial lost of morethan 1 billion FCFA whom they want Mr Abia and Rural Investment to pay.

Questions.

1/Would Mr Abia Abenego accept to save a jail term given his age and status?

2/Where will he take the morethan 1billion francs from?if not from the account of the Microfinance ?

3/Is the government and Mr Louis Paul MOTAZE, the Minister of Finance ready for another Microfinance crisis after the bankrupt of many in Cameroon?.

The court hearing whose date is yet to be known will give more details on the matter..

But stay tuned for update

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T S Leboh