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May 14, 2025 at 02:41 PM
๐ต ๐พ๐๐ข๐๐ง๐ค๐ค๐ฃ ๐พ๐ง๐๐๐ ๐จ ๐ฟ๐ค๐ฌ๐ฃ ๐ค๐ฃ ๐๐ก๐ก๐๐๐๐ก ๐พ๐ช๐ง๐ง๐๐ฃ๐๐ฎ ๐๐ญ๐๐๐๐ฃ๐๐ ๐ถ
Cameroon's Finance Minister Louis Paul MOTAZE has warned individuals engaged in unauthorized currency exchange, particularly in Yaoundรฉ and Douala. The minister highlighted the risks of street-level trading, including counterfeit money, money laundering, and terrorism financing.
Operating without licenses, these traders pose a threat to the economy, business climate, and country's image. Minister Motaze cited CEMAC regulations, which prohibit unapproved currency exchange, with penalties including fines of up to CFA5 million and seizure of foreign currencies.
The minister urged offenders to cease illegal activities immediately or face strict legal action.
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