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Cameroon Government Outlaws International Money Transfer

According to the 8:30pm news bulletin on state media, the President of the Republic of Cameroon Paul Biya has STOPED money transfer agencies from sending and receiving money internationally.

The news which was relay on Wednesday January 11th 2017, over state own radio CRTV, said hence all money transactions will be done nationally.
Those who send and receive money from abroad know that for the last six months it'd become impossible to send money out of Cameroon via the likes of Western Union..

It's the government's way of combating money laundering and terrorism with all the growing security threats.... Cameroonians would have to get used to this just like Ethiopians have done in the past.


The decision has already suffered some criticism as many think it is a very hasty and unwise decision considering that the amount of money Africans living abroad send back to Africa as remittance far outweighs the amount regimes in fragile and failed states receive as international aid. Revenues hardly ever trickle down to its hungry citizens. Citizens living abroad have always been the saviors.

 

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Cameroon Concord  is an online publication covering and reporting on  local and world news, sports, entertainment, politics, business, and religious news. Serving Cameroonians .

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