On February 16, 2023, the companies CENTRE TECHNIQUE DE PLOMBERIE SANITAIRE (CTPS) and INDUSTRIE BENINOISE DES PLASTIQUES (IBP) sued the Bank Of Africa (BOA) BENIN SA before the Commercial Court of Cotonou. They respectively claim the return of 96.682,387 FCFA and 107,470,558 FCFA in respect of interest expense received in excess between 2010

CTPS and IBP indicated that each of them benefited, during the period 2010-2020, from various bank grants including current account assistance with the BOA, including loans in the form of current account overdraft, with amounts of 150 million CFA francs for each of them. Also, they announced that the BOA required guarantees in the form of monthly deposits of 5 million CFA francs, intended to constitute Term Deposits (DATs). These amounts were withdrawn each month during the period in question

For its part, BOA BENIN SA states that the monthly deposits were not intended to be paid, as they were not savings accounts but guarantees for loans. She maintains that the credit agreements signed with CTPS and IBP did not mention any specific remuneration for

According to the judgment rendered on January 30, 2025, the company BOA BENIN SA is ordered to “pay to the company CENTRE TECHNIQUE DE PLOMBERIE SANITAIRE (CTPS) the sum of CFA francs one million thirty-four thousand thirteen (1.034.013) in respect of overpaid interest expense in current account” and “to the company INDUSTRIE BENINOISE DES PLASTIQUES (IBP) the sum of CFA francs seven hundred fifty-one thousand two hundred seventy-five (751.275) in respect of overpaid interest charges in current accounts”.