Benin president fires minister

2010-07-08 15:41

kalahari.com

Cotonou - Benin's President Boni Yayi has sacked his interior minister, the government said on Thursday, accusing him of involvement in a financial scheme that may have swindled thousands of people out of 100 billion CFA francs ($192.1m).

 At least 100 000 people took to the streets this week to demand the government of the West African country help them reclaim money from ICC Services, an investment firm accused of running a Madoff-style scheme to defraud depositors.

The government said in a statement the interior minister, Armand Zinzindohoue, is "blamed for his direct involvement" in the affair. He had been earlier tasked with heading a team to address the scandal. Speaking separately, Yayi said the firm must "satisfy its clients in order to avoid a social crisis in our country".

"To fight poverty, a solution has to be found, otherwise poverty will become even worse," Yayi said.

Clients deposited money with ICC Services on promises they would profit by putting their money into accounts bearing interest rates of up to 50%, 20 times more than other banks. They later found they could not withdraw it again.

ICC Services officials have been put under house arrest and were not available for comment.

Read more on:    benin  |  west africa
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

 

Inside News24

 
/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

20% off all TV Series!

Want to have a chilled day at home? Get 20% off TV series, the perfect excuse to "veg out". Shop now!

Save R700 on the Hisense LED TV Now R2499

Get the Hisense 32” HD ready LED TV for only R2499. Offer valid while stocks last. Shop now!

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

Your ideas may feel like a sea of thoughts swimming around every which way, and now you need to find something to contain them in...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.