TITLE: Benin's Banking Commission of the West African Monetary Union Issues Disciplinary Sanctions Against Three Credit Institutions
BODY:
On February 6, 2026, the Banking Commission of the West African Monetary Union (WAMU Banking Commission) published disciplinary and pecuniary sanctions issued by its Supervisory Board during its 151st session held on December 16 and 17, 2025. The sanctions targeted three credit institutions established across the West African Monetary Union member states.
The WAMU Banking Commission issued reprimands against a bank established in Côte d'Ivoire, a bank established in Niger, and a bank established in Togo. The Côte d'Ivoire-based bank received a pecuniary sanction of 151,000,000 CFA francs following deficiencies identified in its anti-money laundering, countering the financing of terrorism, and proliferation of weapons of mass destruction (AML/CFT/CPF) framework. The Niger-based bank received a pecuniary sanction of 300,000,000 CFA francs for breaches in governance, risk management, and its AML/CFT/CPF framework. The Togo-based bank received a pecuniary sanction of 300,000,000 CFA francs for deficiencies in governance, risk management, and its AML/CFT framework.
All three sanctions were issued in accordance with Instruction No. 006-05-2018 of May 16, 2018, which establishes the framework for pecuniary sanctions applied by the WAMU Banking Commission against credit institutions. The disciplinary measures reflect the WAMU Banking Commission's enforcement of legal and regulatory provisions applicable to credit institutions operating within the monetary union. The sanctions apply indefinitely and are applicable to all credit institutions subject to WAMU Banking Commission supervision.