Benin: Leader faces impeachment over pyramid scheme losses

Nation,Kenya, August 23, 2010 Nairobi (Kenya) — Benin’s President Yayi Boni is inching towards a legal battle he could not win over an allegation which links him to a financial scandal that is rocking the tiny West African country. For several weeks now, many of the country’s lawmakers have been championing the cause of an estimated 70,000 victims of some financial conmen alleged to be excellent bedfellows of the president.

The scandal involves the Investment Consultancy and Computering Services or ICCS and about 70,000 of the local clients but the entire country of nine million inhabitants have practically been affected by the scam which could amount up to 180 million dollars (Sh14 billion).

The matter came to a head when dozens of the fraud victims took to the streets of the capital, Cotonou nearly three weeks ago in demand for their monies.

The angry protesters chanted “enough is enough” after a long and unending duel with the ICCS which gave no signs of paying neither the initial deposits nor interests on them as promised.

ICCS established itself in the country with the advent of President Boni’s government nearly four years ago after he won the presidency as an independent candidate – the first in the country’s political history.

Since then, the president has been basking in the adulation of his compatriots as their allegiance rose to an all time high peak.

But, with luck on his side, the banking expert may not face impeachment proceedings if eight more parliamentarians consider him above reproach and refuse to sign a petition.

However, his silence to date over the accusations and his sacking of a senior minister in connection with the scandal, leaves many to believe that the leader may be preparing a solid fight in the advent of a trial.

His style of leadership which focuses mainly on improving the salaries of state workers as well as the road and other infrastructural network of the country has galvanised the hope and admiration of his countrymen in his rule.

source.afrika.no