Biya stops money transfer in and out of Cameroon

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. No official reason has been provided for such an action.








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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