Finance minister, Motaze says document on him, Ngoh Ngoh, others is fake

By Wilson Musa

The document that alleged the money laundering scandal from Financial Action Task Force (FATF), showed to have blacklisted five prominent Cameroonian figures over alleged involvement in money laundering, dealing a major blow to the country’s image on the global stage. In its February 2025 plenary session, the international watchdog listed a group of influential Cameroonian politicians and businessmen with close ties to Paul Biya. These include Louis Paul Motaze, Cameroon’s Minister of Finance; Ferdinand Ngoh Ngoh, Secretary General at the Presidency; controversial businessman Jean-Pierre Amougou Belinga; Kammegne Paul, a top executive at Afriland First Bank; and businessman Saya Amin Kokay, but the Minister has now come to say it is fake.

“The document was doctored and showed irregularities in some pages”, a release from the Minister noted.

These individuals—many of them closely tied to President Paul Biya’s inner circle—are accused of exploiting their positions of power to divert public funds and facilitate illicit financial flows, exacerbating the country’s deep-rooted governance and economic problems.
The FATF’s latest report, based on an on-site evaluation conducted between February 23 and March 13, 2021, assesses the effectiveness of Cameroon’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime. It found the system to be riddled with loopholes and poorly enforced regulations, recommending sweeping reforms to bring the country in line with international standards.

Lavish Lifestyles Amid Widespread Poverty

What’s particularly galling to many Cameroonians is the stark contrast between the opulence of the accused and the crushing poverty endured by the majority of the population. Despite their public roles, these officials are never required to declare their assets. They own palatial residences, luxury vehicles, and even foreign properties, while hospitals lack basic equipment and civil servants go months without pay.

Independent journalists who dare to investigate or question the wealth of these elites often face threats, arbitrary detention, or smear campaigns. The climate of fear created by the ruling elite has made transparency a dangerous pursuit, further enabling corruption to thrive unchecked.

COVID-19 Funds Under Scrutiny
The FATF also highlighted the suspicious movement of funds ostensibly diverted during the COVID-19 pandemic. Between April 2019 and June 2023, large sums were reportedly smuggled using diplomatic luggage, with cash transferred from Cameroon to the Maldives and later routed to Herzliya, Israel. These revelations suggest an organized and sophisticated laundering network involving state actors.

In a nation where power often shields privilege, these latest revelations serve as yet another reminder of the deep-rooted need for financial transparency, political accountability, and protection of press freedom. Whether Cameroonian authorities will rise to the occasion remains to be seen.

The FATF’s report assesses the current Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures in Cameroon, as of the on-site visit conducted between February 23 and March 13, 2021. It evaluates the country’s compliance with the FATF’s 40 Recommendations and the effectiveness of its AML/CFT system, offering recommendations to enhance these measures.

Cameroon’s situation is notably impacted by the embezzlement of public funds and financial mismanagement, rather than drug trafficking, as the primary sources of laundered funds. The profiles of the targeted individuals indicate their close ties to key decision-making sectors.

FATF also revealed that it is monitoring funds supposedly diverted during COVID-19 protocols. Between April 2019 and June 2023, substantial amounts were attempted to be smuggled via diplomatic luggage, with various currencies transferred from Cameroon to the Maldives and subsequently to Herzliya, Israel.

Additionally, Cameroon is listed among jurisdictions under Enhanced Surveillance, indicating it is actively collaborating with FATF to address strategic deficiencies in its anti-money laundering regime.
As nations consider measures based on their risk assessments, the FATF stresses the importance of ensuring that legitimate humanitarian aid, NGO activities, and fund transfers remain uninterrupted. Countries must also adhere to international obligations, specifically regarding humanitarian exemptions in line with UN Security Council Resolution 2761 (2024).

This latest FATF report highlights ongoing challenges and the urgent need for Cameroon to strengthen its financial governance to combat corruption and ensure transparency.
The report also urges Cameroon to strengthen its efforts against money laundering and terrorism financing by implementing risk-based controls in both banks and non-bank financial institutions. It emphasizes the need for timely access to beneficial ownership information and improved secure information sharing among relevant authorities. Furthermore, the FATF calls for effective money laundering investigations, clear policies for managing seized assets, and prioritizing investigations into terrorism financing.