The State of Cameroon wants to recapitalize two private banks to the tune of nearly 47 billion FCFA. These are Union Bank of Cameroon (UBC) and National Financial Credit (NFC Bank).

The two banks have been in trouble since 2009, according to the newspaper Ecomatin. The publication cites a letter sent to this effect on February 18, 2021, to the Secretary General of the Prime Minister's Office, Séraphin Fouda, by Ferdinand Ngoh Ngoh, the Secretary General of the Presidency of the Republic.

"I have the honor to make it known that the President of the Republic authorizes the assumption by the State of the cost of the restructuring up to an amount not exceeding 29.1 billion FCFA for National Financial Credit (NFC Bank) and 17.8 billion FCFA for Union Bank of Cameroon (UBC)", writes Ferdinand Ngoh Ngoh.

These recapitalizations enshrine the repurchase of the liabilities and assets of these two private banks. The Cameroonian State thus intends to avoid the liquidation of these two credit institutions.