Life › Life

Cameroon: Government disburses 1 billion for MIDA victims

President Paul Biya has offered 1 Billion franc cfa for the reimbursement of Cameroonians whom MIDA, a Yaounde based non-Governmental organization extorted huge amounts of money a year ago.

The information was made known Thursday afternoon in Yaounde by the Governor of the Centre region Naseri Paul Bea during a meeting he held with the unfortunate subscribers of MIDA.

According to him, the money offered by the Head of State will be added to the sum of money that had been seized from MIDA at the time of its closure, to enable each victim receive a considerable amount.

The list of the victims will be made public and payments will be done at the public treasury in the days ahead, reports say.

In 2018, MIDA mounted a Ponzi scheme enticing its victims by claiming that it would pay huge interest on their investments or savings within a short period of time. Thanks to this scheme, it collected billions from its victims and never refunded.

The Government of Cameroon had promised to take measures to pay the money extorted from the victims.

Back top