Equatorial Guinea sack finance minister for ‘irregularities’

Abaga Nchama, who was also in charge of planning, was dismissed for “irregularities committed in the exercise of his office

byNews Central

April 10, 2019

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Governor of the Bank of Central African States (BEAC) Lucas Abaga Nchama (L) speaks next to the Governor of the Central Bank of West African States (BCEAO) Tiemoko Meyliet Kone during a press conference following a meeting between French Finance Minister and finance ministers from Francophone African nations on October 3, 2013 at the French Ministry in Paris. AFP PHOTO / ERIC PIERMONT (Photo by ERIC PIERMONT / AFP)

Equatorial Guinea’s minister for economy and finance, Lucas Abaga Nchama, has been sacked for “irregularities,” according to a government decree published on Wednesday.

Abaga Nchama, who was also in charge of planning, was dismissed for “irregularities committed in the exercise of his office,” it said, without giving further details.

He has been replaced by Cesar Mba Abogo, a secretary of state who had responsibility for steering the country’s 2020 development programme.

Equatorial Guinea is experiencing economic crisis, triggered by the post-2014 slump in the price of crude oil, its principal export.

The former Spanish colony ranks 141st out of 189 countries on the UN’s 2018 Human Development Index, and 172nd out of 180 countries on Transparency International’s 2018 Corruption Perceptions Index.

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