Financial scandal rocks Côte d’Ivoire teachers’ mutual fund
The long-running investigation into alleged embezzlement within Côte d’Ivoire’s Mutual Fund for Teachers (Mupemenet-CI) has culminated in formal charges, as the Prosecutor General at the Economic and Financial Crimes Unit confirmed the filing of a case involving more than 5 billion West African CFA francs.
Following months of meticulous examination of financial records and witness testimonies, Aboya Koffi Jean-Claude, the lead prosecutor at the Economic and Financial Penal Pole (PPEF), ordered the arrest of three key figures on May 19, 2024. Among those detained were Agré Lynx Bourgelat, Executive Director of Mupemenet-CI, and Koné Allagnan, the institution’s Financial Affairs Director, both transferred to the Abidjan Penitentiary Annex (formerly known as MACA).
A third individual, Dao Ibrahim Kinan, was also taken into custody. Kinan, a businessman with multiple corporate holdings including IDK, KINANE, and TICS SERVICES, serves as the president of the political party The Avertis. Investigators allege he played a central role in orchestrating a complex network of shell companies designed to siphon funds from the teachers’ mutual fund.
During their interrogations, both Mupemenet-CI officials implicated Dao Ibrahim Kinan as the mastermind behind the financial scheme. His subsequent detention followed intensive questioning by the PPEF investigative team, which uncovered irregular transactions totaling billions of CFA francs over an extended period.
The case now moves forward for trial, marking one of the most significant financial scandals to impact Côte d’Ivoire’s education sector in recent years.
