The article of association of MC2 Bamunka was given some modifications during an Annual General Assembly Meeting (AGM) Sunday 12/12/2015. According to the modifications and prominent among other things, names of delinquent debtors are to be made public henceforth. The AGM came at a time when it was an open secret in Ndop town that some staffs of MC2 Bamunka had embezzled some amount of money and were consequently sacked and taken to court. Accordingly, in his presentation, the head of the internal audit committee Fongong Roland (A.K.A Monaco) could not mince words and called a spade a spade. According to the internal audit committee, money was embezzled especially in 2014 when over 235.000.000 FCFA disappeared. Upon their control, they realized that part of the money was withdrawn from Afriland First Bank and disappeared between Afriland and MC2 Bamunka while part was illegally withdrawn from members account by staffs without the concern of the owners. In effect, the internal audit committee regretted the fact that neither the Board of Directors (B.O.D) nor the support structures respected their numerous recommendations which would have gone a long way to minimize the damage. Members were also accused of not collaborating with the internal audit committee reason why it was difficult for the internal audit committee to remedy the situation. “You cannot imagine that members are afraid to give their passbook to internal auditors, they prefer to give it to the staff who is being audited. How do you then expected the staff not be smart. However, auditing is not a war as it is just a way to make sure things are right. Secondly it is difficult to consult all accounts and consequently accounts are checked randomly”. Fongong Roland lamented. In his speech, the representative of AFriland Fist Bank pledged a support of 10milion FCFA as subvention to MC2 Bamunka to assist in the crisis. Further, he promised that AfriLand First Bank will assist with operative expenses and in the legal follow-up by giving financial assistance and legal experts to enable the recovery of the embezzled funds. The B.O.D witnessed some slight restructuring with two new members while the team will continue to be led by Mr. Fopa Elvis as president of the B.O.D. The two new comers include maître Ngongang Regobert and Mr. Tafili Magnus.
Among the recommendations arrived at include,
- New article of association adopted with no modification
- Members called upon to buy signed copies of Articles of Association at 300FCFA a copy.
- O.D given the powers to recover all unpaid loans using all measures possible.
- Three months ultimatum given to all B.O.D, council of elders, controllers etc to repay their loans or else be suspended and treated like ordinary members.
- O.D and staffs should follow up the recommendations of the internal controllers, ADAF and Afriland First Bank.
- The AGM renewed the mandate of B.O.D of MC2 for 3 years until the court issue is finalized.
The AGM ended with light refreshment.