Micro Finance Regional Manager Held Hostage in Limbe

The Regional Manager for Societe Cooperative d'Epargne et du Developpement des Camerounais for Limbe was yesterday the 29th June kept under house arrest by the customers of the said institution.

Mr Agbor Phillip had passed an order to the Limbe Branch Manager to empty the coffers of the said institution but the manager did not waste any time to inform the banks account holders who stormed the office of the Regional Manager Mr. Agbor and held him hostage.

They were demanding the management to enable them withdraw their money from the coffers and had no intention to release the Manager until their demands were met but the timely intervention of the security forces jeopardized their plans and ferried Mr Agbor to the Limbe Police Station.  

He has not reacted to these allegations yet and the atmosphere is still tensed for the customers are agitated and worried about their state of money under its keeping. This is not strange in Cameroon for most financial institutions are going bankrupt and folding up with customers’ money like the case with FIFA.