CAMCCUL stands for Cameroon Cooperative Credit Union League where the interest of thousands of shareholders in the North West Province of Cameroon, Bamenda may be at stake with the involvement of the notorious corrupt CPDM regime.
This is what has ignited this debate between Mr Fon Emmanuel Ngang( FEN), Mr Boh Hebert, myself Rev Jonathan Awasom and Mukoi Elkanah. There is a growing need for open transparency and accountability as the hallmarks for good governance and the rule of law,which is why I am putting pressure on.
So, take a moment to appreciate this debate and draw your own conclusions from what you know about the role of government in fostering development and progress but most importantly, why many of us press for transparency and accountability with big corporate financial institutions like CAMCCUL especially when they are involved with the corrupt CPDM regime notorious for being anti- develoment and progress of civil society.
In short Mr Boh Hebert was very skeptical about this deal between CAMCCUL and CPDM government and I seconded his skepticism because we all know that the CPDM regime has bad faith in everything they are involved in as a dying system whose goal these days is to ruin and destroy all viable financial institutions in Cameroon before they crumble. That is why we are mobilizing all forces of progress and advocates for human rights to stand up and hold CAMCCUL and CPDM government( illegal and illegitimate government) accountable.
----- Forwarded Message -----
From: Divine Rhyme <hittback@yahoo.com>
To: camnetwork@yahoogroups.com
Sent: Thursday, July 12, 2012 1:31 PM
Subject: Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
From: Divine Rhyme <hittback@yahoo.com>
To: camnetwork@yahoogroups.com
Sent: Thursday, July 12, 2012 1:31 PM
Subject: Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
| Herbert, A tiger can never forget its tigritude. The sharp critical journalist in you just kicked in immediately you read this CAMCULL /BUC connection - and you are absolutely right . But I am sure you will not blame some of us for being too anxious after reading "hopeful" developments such as these. Well, unfortunately it wasn't any development to begin with and even if it was, as you said, it could only mean disaster for the ordinary NW farmer as long as it had all of Satan's blessings from Yaounde |
----- Forwarded Message -----
From: Jonathan Fru <jonathan_light2000@yahoo.com>
To: "camnetwork@yahoogroups.com" <camnetwork@yahoogroups.com>
Cc: SDF <cameroons_sdf_party@yahoogroups.com>
Sent: Thursday, July 12, 2012 9:06 AM
Subject: Mukoi Elkanah, the trained accountant and CAMCCUL//Re: Mr Boh Hebert // Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
Mukoi Elkanah
You claimed to be a trained accountant in the United States of America and here you are speculating on CAMCCUL instead of helping us on how to get to the bottom of this matter!
Either you are an imposter or an illiterate who needs some serious re-education beyond your treatment for mental disorder. You are speculating instead of x-raying this matter from a professional standpoint so that people see the disconnect and lurking exploitation.There is lack of transparency and accountability ,which must be addressed accordingly and not through wreckless speeches.
We need legal experts as well as economic experts from the civil society to step up with a good conscience and protect CAMCCUL , which might be hijacked by the Bamenda elite in a conspiracy with CPDM regime to manipulate and dupe the majority of shareholders who are not informed of such deep economic schemes. I am an advocate with knowledge of the ethical responsibility of CAMCCUL towards civil society and the CAMCCUL shareholders. So, stop repeating all what we already know.
Here you're claiming to be an account and a Ph.D candidate in some aspect of Business administration.
One has never been very clear as to what is your field of studies but I recall you boasting as a Ph.d candidate
You are too full of speculative thoughts,which comes across to one like you are an illiterate
From a professional standpoint, what is your take on this matter quite apart from the same old blame game?We already know that it is a scheme but what are the professional ways through, which we can hold them accountable in terms of the transparency and accountability? We need a document detailing what is going on made available to civil society and the international community from CAMCUL and not only some scanty new flashes that have no substance .
This is what I am saying. In the economic banking system, we have a savings and checking accounts as the main accounts available to bankers. One of the accounts, which is the savings account is expected to yield interests for the owner granted that his money can be used for business by the bank owners
Then you have the bank owners who freely sell stucks or shares to people. Can I say that the bank owners are known as stakeholders who may be Board of Directors of the bank. The bank staff constitute the board of management under a Bank Manager.So, the shareholders have certain rights since they have invested into the bank.Here we have CAMCCUL as a CREDIT UNION! Can you help us to understand in detail what is a credit union and how it operates?
So, if the CPDM Government Delegate is negotiating to draw a large sum of money from the bank and claiming that the amount is earmarked for development projects in the Bamenda Central Urban Council, then to someone like with a deep knowledge and understanding of leadership and business management has the following questions to CAMCCUL Bank Manager and Board of Directors
1) Who are the auditors of CAMCCUL
2) How did the said amount earmarked for development projects in Bamenda come about?
3) In what ways are the shareholders and stakeholders involved with this amount?
4) Explain to civil society how CPDM government delegate got involved and is it a loan to the Government?
5) When will the government pay back this loan to CAMCCUL and who is defined here as government?
6) Where is the Budget for the projects for ,which the loan is earmarked?
Budgeting has a whole new chapter on its own because it has to do with INCOME AND EXPENDITURES IN TERMS OF THE NUMBER OF PROJECTS AND THE EXECUTORS OF THE PROJECTS
WHO
WHAT
WHEN
WHERE
WHY
These are some of the basic questions that ensures that we have transparency and accountability
Jonathan Awasom
The voice for Cameroon, Africa and the world in the 21st century
The Rally-cry for freedom, justice, peace ,democracy and prosperity for all
The voice for Cameroon, Africa and the world in the 21st century
The Rally-cry for freedom, justice, peace ,democracy and prosperity for all
Empowering humanity to build a virtuous and free world for the beloved global village
From: Elkanah Mukoi <billymukoi@hotmail.com>
To: camnet work <camnetwork@yahoogroups.com>
Sent: Thursday, July 12, 2012 8:01 AM
Subject: RE: Mr Boh Hebert // Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
I strongly belief this is a scheme by Cameroon Gov't officials. CAMCCUL is made up of various credict Unions in the Northwest. I just can't belief that the other credit Unions in the other divisions will accept that such an amount be invested only in Bamenda. Take for example, the road to Mbangwi is untarred. Do you really think that the Mbengwi credit Union will accept that their share be taken and used to tar roads in Bamenda when they don't even have a meter of tar leading to their town? I have spoken to some members of the Wum credit Union and they are absolutely unware of such a project. They have vowed to withdraw from CAMCCUL if such an adventure is executed. I told them that, one of the founding member of the Wum credit Union in person of late Pa Moses Akum will be very angry to hear such a thing if they were involved in such a deal. The road to Wum is very bad, so why will they prefer to used Wum peoples money to tar Bamenda instead of looking for their interest? I am on this case and that deal will be disrupted.
"If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer." [Obama-Nov. 4th, 2008]
Prof. Billy
From: Elkanah Mukoi <billymukoi@hotmail.com>
To: camnet work <camnetwork@yahoogroups.com>
Sent: Thursday, 12 July 2012, 2:58
Subject: RE: Mr Boh Hebert // Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
To: camnet work <camnetwork@yahoogroups.com>
Sent: Thursday, 12 July 2012, 2:58
Subject: RE: Mr Boh Hebert // Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
For the Record:
CAMCUL is a a combination of credit unions around the country. The fight is on, Biya and his Gov't will not succeed. If they want to spend their millions with farmer's monies in the NW, then what about the other 9 regions? Cameroonians need to stand up against this newly created fraudulent scheme.
CAMCUL is a a combination of credit unions around the country. The fight is on, Biya and his Gov't will not succeed. If they want to spend their millions with farmer's monies in the NW, then what about the other 9 regions? Cameroonians need to stand up against this newly created fraudulent scheme.
"If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer." [Obama-Nov. 4th, 2008]
Prof. Billy
To: camnetwork@yahoogroups.com; cameroon_politics@yahoogroups.com CC: cameroons_sdf_party@yahoogroups.com From: jonathan_light2000@yahoo.com Date: Wed, 11 Jul 2012 08:42:25 -0700 Subject: Mr Boh Hebert // Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
Sent from my iPhone
Mr Boh Hebert you make a very useful and eye opening case ,which we must not take lying down
The truth is who are the stakeholders and shareholders of the said CAMCCUL and what is their role in this move undertaken by the CPDM Government Delegate and the Council in terms of their rights? This kind of political games may not be well known by the shareholders or stakeholders ,which is why we must be concerned.
While I see with you, I suggest that you lead an action so that we begin to map out a strategy to ensure that we get to the bottom of this matter as a potential human rights theft of public funds, embezzlement and misappropriation and begin to mobilize legal forces to be ready to prosecute and sentence
Are there members of the SDF shareholders and stakeholders because that can be an opportunity for a social justice activism on the whole platform of the SDF Party. What do you think? I am copying SDF Party with this question
Over to you
Thanks
Jonathan Awasom
The voice for Cameroon, Africa and the world in the 21st century
The Rally-cry for freedom, justice, peace ,democracy and prosperity for all
The voice for Cameroon, Africa and the world in the 21st century
The Rally-cry for freedom, justice, peace ,democracy and prosperity for all
Empowering humanity to build a virtuous and free world for the beloved global village
From: Herbert Boh <herbertboh@yahoo.com>
To: "cameroon_politics@yahoogroups.com" <cameroon_politics@yahoogroups.com>
Cc: "cameroon_politics@yahoogroups.com" <cameroon_politics@yahoogroups.com>
Sent: Wednesday, July 11, 2012 11:30 AM
Subject: Re: [cameroon_politics] Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
To: "cameroon_politics@yahoogroups.com" <cameroon_politics@yahoogroups.com>
Cc: "cameroon_politics@yahoogroups.com" <cameroon_politics@yahoogroups.com>
Sent: Wednesday, July 11, 2012 11:30 AM
Subject: Re: [cameroon_politics] Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
Dear FEN,
This is not a "wait and see" matter. The thief is in the house. It's time to cry thief. A roach does not wait in the hope it would be found not guilty in an assembly of hens. This thing is full of cons and no pros. It's a scam that stinks to high Heaven.
To the questions you raised:
1. Don't you think CAMCCUL has figured out how to get repaid.
I hope they have. But, hope is not a plan and it is not a guarantee. If the Cameroon government wants to provide a guarantee, they could have approached an institution like the World Bank's MIGA. The government of Cameroon cannot be trusted to honor its word and pay its debts. Period! It does not matter what it says or promises.
2. This is a lot of money.
You bet! It is the kind of money that a credible government would seek and obtain from a development agency like the World Bank or the African Development Bank. But they have no credibility (firstly) and they know fully well (secondly) that for difficulty of obtaining repayment that even the World Bank does not lend to sub-sovereign entities such as regional or local governments and municipalities.
3. You suggested: I am sure there is a strategy in place for tax payers to foot the place.
Wishful thinking, would be my response. If there is one, let CAMCCUL publish it and let the government say how they intend to honor this one particular commitment when they have never honored any word they gave to anyone. Have they honored their commitment to retirees? Have they used revenue from toll to repair roads, as they claimed? The answer is NO. And this is in spite of the fact that the Road Fund was created at the instigation of institutions like the IMF & World Bank and despite the fact funds from it are deposited with BEAC.
4. Is there no FDIC-type guarantee for deposits by clients in case CAMCCUL goes belly up?
You know the answer, my brother. There is nothing. Nada. Zero. Zip. Nathing. The same government whose goal is to "tif pipul their money" cannot guarantee to return that which they are bent on stealing. They did not return for Cameroon Bank or Credit Agricole. What Yaounde is dojng in effect is asking CAMCCUL to "make erreur for mbotukuh" and provide them "ndamme for ndoss".
This scam amounts to a run on CAMCCUL engineered by the government. Clients of the institution should not standby and let it happen.
There are questions begging for answers that point to the case I make that this a 419 operation. Among them:
Why is CAMCCUL being made the lender of last resort? Why not the World Bank or the African Development Bank?
Why has there been all the interest among government officials of all wolf clothing to have control over CAMCCUL the latest show of which was by the last North West governor?
If Yaounde thought the Credit Union was a partner in development, why all the recent hostility towards it? Was it hostile because it wanted to access its deposit and CAMCCUL was not cooperating?
Why has the current leadership of the Credit Union been allowed, encouraged and even blessed to overstay their mandatory welcome?
I can go on, but know there is no need to do so. We are describing a government which survives only by stealing to the point that it robs its right pockets to put the money in its left pockets. It's a government that steals votes even when it is adding up final tallies provided by itself. This is a government under whose supervision insurance companies companies do not even cover what they purport to. This a government that can claim tomorrow that this loan was a donation from CAMCCUL.
Boh Herbert
Sent from my iPhone
On Jul 11, 2012, at 10:13 AM, Divine Rhyme <hittback@yahoo.com> wrote:
=
Hello Herbert, I would like to agree with you but at the same time, don't you think CAMCULL must have figured out how to recover its money? That is quite some money we are talking of here and I am sure there is a strategy in place where tax payers will eventually foot the bill as they should. Finally is there no Cameroon version of the FDIC which can insure savings thereby making sure depositors do not loose their savings in banks through bad loans?
Its good that such criticisms come early so that we know what we are getting into. I am sure CAMCULL must have been advised to study the situation before getting into it.
The figure of 54 billion is definitely not an arbitrary figure calculated by Rexon Nting, so I think experts on both sides must have grappled with all the pros and cons before making this thing public. Anyway lets wait and see.
FEN
--- On Wed, 7/11/12, Herbert Boh <herbertboh@yahoo.com> wrote:
From: Herbert Boh <herbertboh@yahoo.com>
Subject: [cameroon_politics] Re: [camnetwork] HOPE IS ALL A PEOPLE NEED!
To: "camnetwork@yahoogroups.com" <camnetwork@yahoogroups.com>
Cc: cameroon_politics@yahoogroups.com
Date: Wednesday, July 11, 2012, 1:41 PM
It would seem (to me at least) that unfortunately and at long last the corrupt bankrupt government of Cameroon has found a way to do with CAMCCUL what they perpetuated on Cameroon Bank and Cameroon Marketing Board.It seems Yaounde is finally getting its hands on the keys to the North West Region's candy store. And, as at Cameroon Bank and the Marketing Board, the regime will do what it does best: "chop broke pot".CAMCCUL holds the bulk of the savings of the rainy day conscious people of the North West Region. Should that financial institution fund the Biya government as this article suggests it is about to do, its members can kiss their hard-earned savings adieu.There are red flags all over this thing. This is a scam, a 419 scheme that will thoroughly "fey" CAMCCUL and the predominantly poor farmers who bank with it. We must not forget that it was a scam of this nature that sparked some of the revolutions in parts of the former USSR. More recently, a 419 scheme of the same ilk dealt a merciless blow to poor farmers across Benin Republic in West Africa.Can the illegitimate and "tiffing" government of Mr. Biya and the unelected government delegates acting on their behalf tell us if the roads in Yaounde, Douala or Ebolowa were funded by resources drawn from private citizens' savings or were they funded by the state budget? This is a government that does not pay its civil servants for their service and does not honor it's IOUs. It is a government that owes everyone and their grandmother, beginning with me. It is a government that abuses the word immunity. This is a government that runs its own airline company to the ground or is capable of shooting its own planes down. This is a government that collects reparations meant for bereaved families of a crash and puts away the funds in private coffers. This is the regime that has robbed Cameroonians blind for the past 30 years.Now, they have finalky entered the gates of Abakwa town. It is Ali Baba himself and the forty thieves who are knocking on the vault of CAMCCUL and the latter opens at its members' financial peril.I have said my own, as our people say. Let no one say tomorrow that "I nobin talk".Boh HerbertSent from my iPhoneOn Jul 11, 2012, at 2:15 AM, Divine Rhyme <http://www.blogger.com/> wrote:=
By Michael NdiCameroonPostline.com -- The Cameroon Cooperative Credit Union League (CAMCCUL) Ltd will make available 53 billion FCFA to fund major projects of the Bamenda City Council beginning in 2013. This was disclosed at a recent annual general meeting of CamCCUL, which held in Bamenda recently. During the meeting, Bamenda city hall Government Delegate Vincent Nji Ndumu hailed CamCCUL for alleviating poverty, curbing rural – urban exodus, improving standards of living, alleviating poverty and fighting unemployment in the Northwest Region and Cameroon as a whole. He disclosed that the grand councilors of his city council gave him the go-ahead to source for funds to enable the council execute the catalogue of projects in its recently presented strategic plan. According to Vincent Ndumu, CAMCCUL will fund the tarring of 280km of roads within the city to the tune of FCFA 50 Billion FCFA and the construction of the multi-purpose bus station at Up-Station, Bamenda ,to the tune of 3 billion FCFA 53Billion. Earlier, while presenting the city council’s strategic plans to the public in Bamenda, the Government Delegate was hailed when he announced that a canal would be constructed in Bamenda through which all the streams within the city council would be channeled and empty in the municipal lake that will equally be constructed soon. When this is accomplished, all the wetlands of the municipality would have been transformed into dry land suitable for building areas. At the CAMCCUL general meeting, the crisis which rocked institution some months ago was led to rest. The scores of CAMCCUL delegates from all the 10 Regions of the country unanimously shamed the CamCCUL detractors who triggered the crisis. In their 19-point resolution, the delegates vehemently condemned acts of blackmail, sabotage “and the divulging to the public of network’s sensitive information by some credit union officials”. Due to the disruption of CamCCUL network activities by certain detractors of the system in Bamenda, certain issues which are of primordial importance to CamCCUL survival, like the taxation problems, delinquency, the stability of the network’s bank (UBC PLC) was reported to have been neglected by CamCCUL management whose attention is now diverted to resolving these problems, thus leading to serious setbacks in the organisation’s operations. “Promoters of such unscrupulous acts shall be severely sanctioned,” the delegates warned. On the issue of the mandate of CamCCUL and Credit Union Presidents, it was resolved that in the process of amending the Articles of Association of CamCCUL, Model By-laws of the Credit Unions and the Alternate Dispute Resolution Policy was concluded on December 3, 2011 in Buea during the extraordinary meeting of CamCCUL and the credit unions have already started applying these internal laws. The assembly resolved that individual credit unions shall freely carryout new elections using their by-laws adopted by CamCCUL general assembly on the December 3, 2011 in Buea. Credit union presidents henceforth have a 3-year mandate renewable thrice.
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