The Central Bank of West African States published decisions by the Banking Commission of the West African Monetary Union (UMOA) imposing disciplinary reprimands and monetary penalties on three banks operating in Côte d’Ivoire, Niger and Togo for breaches of the legal and regulatory framework applicable to credit institutions. The measures address weaknesses identified in governance and risk management, as well as in controls for anti-money laundering, counter-terrorist financing and countering the financing of proliferation of weapons of mass destruction. After hearing the relevant executives at its 16–17 December 2025 session, the Commission issued a reprimand to each bank and levied fines of XOF 151 million for the Côte d’Ivoire bank (third-category infringements), XOF 300 million for the Niger bank (second- and third-category infringements) and XOF 300 million for the Togo bank (second- and third-category infringements). The pecuniary sanctions were applied under Instruction No. 006-05-2018 of 16 May 2018 on the modalities for fines imposed by the UMOA Banking Commission.
Central Bank of West African States 2026-02-06
Central Bank of West African States UMOA Banking Commission reprimands three banks and imposes XOF 751 million in fines for governance and AML/CFT shortcomings
The Central Bank of West African States announced disciplinary actions by the Banking Commission of the West African Monetary Union against three banks in Côte d’Ivoire, Niger, and Togo for regulatory breaches. The banks received reprimands and fines totaling XOF 151 million, XOF 300 million, and XOF 300 million, respectively, for governance, risk management, and compliance failures. These sanctions were issued under Instruction No. 006-05-2018.