Alfred Tiki has been appointed as the official liquidator of Amity Bank Cameroon by the Central African Banking Commission (CABC), competent services at the Ministry of Finance disclosed to APA on Thursday. The decision comes after the financial institution was placed under provisional administration and the withdrawal of its license.

The bank liquidation procedure which is open will be conducted in accordance with existing regulations Tiki, already provisional administrator of the institution said in a statement released by the government daily newspaper, Cameroon Tribune.

Amity Bank was placed under provisional administration by COBAC in 2006, following serious management failures.

The property was bought four years later by the Ivorian Group Banque Atlantique, although the deal was strongly denounced by its shareholders, who argued that remedial measures to save the bank were not explored.

The Common Justice Court of the Central African Economic and Monetary Community (CAEMC) may finally rule in favor of the complainants.