The Central Bank of West African States has published sanctions decided by the WAMU Banking Commission against five credit institutions in its 17-18 March 2026 session. Three banks established in Togo, Niger and Mali each received a reprimand and a pecuniary sanction of FCFA 300 million for breaches of banking laws and regulations. The cases centered on weaknesses in governance and risk management, as well as deficiencies in controls for anti-money laundering, countering the financing of terrorism and the proliferation of weapons of mass destruction. In the Togolese case, the Commission also found a near-generalized breach of prudential standards. The Commission also withdrew the licenses of ZEYNA in Niger and Société Burkinabè de Crédit Automobile in Burkina Faso, with both institutions placed into liquidation. ZEYNA was sanctioned for generalized breaches of banking and AML-CFT rules, unauthorized operations in other Union countries without prior approval, failures in accounting and prudential reporting, management shortcomings and the absence of a viable recovery path. Société Burkinabè de Crédit Automobile lost its license for near-generalized prudential breaches, failure to comply with supervisory injunctions since 2022 and the absence of viable recovery prospects.
Central Bank of West African States2026-07-02
Central Bank of West African States publishes WAMU Banking Commission sanctions including three FCFA 300 million bank fines and two license withdrawals
The Central Bank of West African States published WAMU Banking Commission sanctions covering five institutions. Three banks in Togo, Niger and Mali were reprimanded and fined FCFA 300 million each for governance, risk management, prudential and AML-CFT related failings. ZEYNA in Niger and Société Burkinabè de Crédit Automobile in Burkina Faso had their licenses withdrawn and were placed into liquidation.