Mali: After the dismissal of the economic operator Amadou Djigué from his functions as PCA: Former Minister Mrs. Ly Taher Dravé appointed Provisional Administrator of Insurance Lafia-sa for 2 months

The former CEO must justify 3,824,804,114 CFA francs and the debts of  123,831,719 CFA francs due to Amadou Djigué soon to be recovered 

It is the former Minister of Livestock and Fisheries under IBK, Mrs. Ly Taher Dravé, who will have the heavy responsibility of getting the Company "Les Assurances Lafia-Sa" out of a crisis that has lasted too long. This woman Chartered Accountant has just been appointed Provisional Director of the Company for a renewable term of 2 months (September-October 2020). This appointment follows the dismissal of the economic operator Amadou Djigué from his duties as Chairman of the Board of Directors (Pca) by the Directors on July 16, 2020 and the appointment of Boubacar Djigué to this position, at the 86th session of the Company's Board of Directors. Mrs. Ly Taher Dravé will have her work cut out for her work since she must allow the Director General of the Company, Ousmane Bocoum, to justify the amount of 3,824,804,114 CFA francs arrested at the end of the control mission of the National Directorate of treasury and Public Accounting (Dntcp) and to recover the credits Ances due to Amadou Djigué in his capacity as Pca, stopped at 123 831 719 FCFA by the control mission of the Dntcp. 

For a few months, the company "Les Assurances Lafia-sa" has been making headlines because of the solitary actions of the now ex-chairman of the Board of Directors, the economic operator Amadou Djigué. Not to mention the numerous legal proceedings he has unilaterally initiated against the Chief Executive Officer of Assurances Lafia-sa, Ousmane Bocoum, and the Directors, to prevent them from meeting in session of the Board of Directors on July 16, 2020.

Today, Amadou Djigué is going through a very difficult period since his business is no longer working as before. His various disputes with local banks have gone through this.

Regarding the company "Les Assurances Lafia-sa", the economic operator Amadou Djigué is no longer the chairman of the Board of Directors (Pca), after 20 years. In other words, he was simply dismissed from office by the Directors, who appointed another economic operator by the name of Boubacar Djigué to replace him.

In fact, Boubacar Djigué was appointed Chairman of the Board of Directors (Pca) at the end of the 86th session of the Board of Directors, held on July 16, 2020. And four of the eight Directors were present, namely Boubacar Djigué, Hassane Bathily, Alou Gamby and Sékou Oumar Tangara. The quorum was therefore reached since the law and article 16 of the statutes of Assurances Lafia-sa require the physical presence of at least half of the Directors for the holding of a Board of Directors.

Also taking part in this meeting were the Director General of the Society, Ousmane Bocoum, and Master Yacine Faye Sidibé, notary as session secretary.

The dismissal of the Chairman of the Board of Directors, Amadou Djigué, and the appointment of the new Pca were therefore the main lines of this Board of Directors.

With regard to the dismissal of the economic operator, Amadou Djigué, the Directors relied on the governance crisis that the company "Assurances Lafia-sa" is going through and the manifest desire of Amadou Djigué to question  all the decisions regularly and legitimately taken by the governing bodies. of the company, in particular the Board of Directors and the General Meeting of Shareholders on the Financial Statements closed on 31 December 2018 and on the capital increase closed on 30 April 2019.

Other arguments are the breach of trust between Amadou Djigué and the other members of the Board of Directors, the summons of the Directors to court... All this to prevent the holding of the Board of Directors.

This is why the Directors have decided to change the governance in order to implement new rules of good governance to ensure the sustainability of the Company "Assurances Lafia-sa", preserve the continuity of activities and the image of the Company. This, in order to allow it to face, in a serene way, the challenges and changes underway in the Insurance sector.

Despite everything, Amadou Djigué did not give up. His wish was to set up a provisional Administrator to manage the affairs of the company "Les Assurances Lafia-sa". This, after the control report of an Expert from the National Directorate of Treasury and Public Accounting (Dntcp) who detected financial embezzlement to the tune of 3,824,804,114 CFA francs weighing on the management of the Director General, Ousmane Bocoum. The latter is therefore accused by this report, of fraud, breach of trust, abuse of corporate assets, accounting fraud (fictitious accounting), fraudulent evasion against the Company.

With regard to commissions and claims, the report notes anomalies consisting of "the existence of several cheques made out in the name of two different beneficiaries" for an amount of 162,295,182 CFA francs. And the audits reveal denominated cheques committed by the director general in the amount of 37,494,841 FCFA.

With regard to the issuance of premiums and payment of commissions, serious frauds appear, of which 1,244,328,959 CFA francs of commissions were fraudulently paid to various brokers, without any proof.

On the claims files from fiscal years 2018 to March 31, 2020, the report found questionable payments, fraudulently repeated without the Branch being able to provide any supporting documents.

In any violation of Article 733 of the Cima Code and the Order of the Minister of Finance No. 0741/MF-SG of 26 April 1999 setting the rate of commissions, the General Management fraudulently paid 256,889,122 FCFA of commissions in excess of the regulatory rate.

It is for all these reasons that the Ministry of Economy and Finance has decided to put the company "Les Assurances Lafia-sa" under provisional administration. And the choice fell on the former Minister of Livestock and Fisheries under IBK, Mrs. Ly Taher Dravé to ensure the position of Provisional Administrator for a term of 2 years, from September 1, 2020.

As such, Ms. Ly Taher Dravé will benefit from a monthly salary and the benefits attached to her functions, set by the Supervisory Board under the conditions provided for in Circular No. 00175/CRCA/CIMA/PDF/ 2002 of 24 October 2002 limiting the management fees of provisional administrators.

The new boss will have the difficult task of managing the day-to-day affairs of the Society. It will therefore be necessary to correct the shortcomings on the operation of increase the share capital of Assurances Lafia-sa as well as the other anomalies reported in the control report of the National Directorate of the Treasury and Public Accounting (Dntcp).

Mrs. Ly Taher Dravé must allow the Director General, Ousmane Bocoum, to justify the amount of 3,824,804,114 FCFA, stopped at the end of the work of the control mission of the Dntcp.

Regarding his financial embezzlement, Ousmane Bocoum refutes the accusations of the control report. According to him, all the supporting documents were submitted to the National Directorate of Treasury and Public Accounting.

Ms. Ly must also make every effort to recover the debts owed to Amadou Djigué in his capacity as Chairman of the Board of Directors (PCA), stopped at 123,831,719 FCFA at the end of the work of the control mission of the Dntcp.

The Provisional Administrator must also restore calm within the company, ensure compliance with the provisions of Regulation No. 007/CIMA/PCMA/CE/ 2016 of 8 April 2016, relating to the increase in the capital of insurance companies.

It should be noted that Mrs. Ly Taher Dravé is a chartered accountant and manager of the accounting firm "Mali Consulting Group". She has also been a member of the Council of the National Order of Chartered Accountants and Chartered Accountants of Mali since 2006.

Judicial expert before the courts and tribunals of Mali, auditor approved by the WAEMU Banking Commission and the Regional Commission for Insurance Control (Crca/Cima), the new boss of Assurances Lafia-sa is also a trainer in Syscoa/Syscohada and management cost accounting.

To do this, she has acquired more than 20 years of audit experience in several countries, including Tunisia, France, Guinea, Mali and other WAEMU countries.

After obtaining her baccalaureate at the Lycée des Jeunes Filles in Bamako in 1989, Ms. Ly continued her studies at the Institut des Hautes Études Commerciales de Carthage-Présidence before obtaining her university degree in accounting studies, then a master's degree in accounting management option.

She holds a Diploma in Accounting and Financial Studies, obtained in France in 2004. Mrs. Ly Taher Dravé is also President of the Soroptimist International Club "Club Lumière de Bamako" since November 2016.

It should be recalled that the crisis within the Company "Assurances Lafia-sa" began with the implementation of the process of increasing the share capital, in accordance with the standards of the International Conference of Insurance Supervisors (Cima). And Ousmane Bocoum was appointed Chief Executive Officer of the Company on December 23, 2017, on the proposal of the economic operator, Amadou Djigué. Previously, he held the position of Administrative and Financial Director (Daf).

  El Hadj A.B. HAIDARA

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THE NATIONAL DIRECTOR OF TRésor and Public Accounting warns AMADOU DJIGUé

"I ask you to postpone any activity in

quality of Pca of the Company, under penalty of sanction provided for by the regulations in force"

In a correspondence dated August 3, 2020, the National Director of the Treasury and Public Compatibility, Sidi Almoctar Oumar, warns Amadou Djigué to postpone any activity as Pca of the Company "Assurances Lafia-sa", under penalty of sanction provided for by the regulations in force since he has been replaced by Boubacar Djigué, appointed Chairman of the Board of Directors by the Directors, on July 16, 2020.

On August 3, 2020, the National Director of the Treasury and Public Accounting, Sidi Almoctar Oumar, sent a letter to Amadou Djigué to warn him. "It came back to me to note that you published in the newspaper "L'Indépendant N°5020 of Thursday, July 30, 2020 a notice on Lafia-sa Insurance relating to the Provisional Administration of the Company pronounced by the Commercial Court of Bamako, following your complaint on the management of its General Manager.

I remind you that in terms of Provisional Administration, the provisions of Articles 312 and 321 of the Insurance Code resulting from the CIMA Treaty provide for a specific procedure to achieve this, by dedicating the exclusivity of decision-making power to the Regional Commission for Insurance Supervision or the Minister in charge of Insurance in the Member State, after obtaining the assent of the Secretary-General of the Conference.

Consequently, no other body outside the Commission is entitled to put under Provisional Administration an Insurance Company of a Member State," says Sidi Almoctar Oumar. Before adding: "Therefore, your many acts taken in defiance of Community rules expose you to possible sanctions from the Commission.

In addition, I inform you that the correspondence N°1682-20 of July 16, 2020 of Assurances Lafia-sa that was sent to me indicates that during the 86th session of the Board of Directors of the Company, Boubacar Djigué was appointed as President.

Pending the diligence that I intend to carry out on the regularity of this foundation, in accordance with the provisions of the statutes of the Company and articles 453 and following of the Ohada, I ask you to postpone any activity of the Company's PCA quality, under penalty of sanction provided for by the regulations in force".

To conclude, he states: "I would be grateful if you would take the steps you would like to take to place your activities relating to the Company within the strict framework of legality".

It should be noted that the Director General of Assurances Lafia-sa, Ousmane Bocoum, had been accused of "financial embezzlement" weighing on his management by the report of an Expert committed by the National Directorate of the Treasury and Public Accounting for 3.8 billion CFA francs. This report was commissioned by the now former Chairman of the Board of Directors, Amadou Djigué, while forgetting that an Insurance Company is mainly governed by the Code of the International Conference of Insurance Supervisors (Cima) and secondarily by the texts of Ohada. And this in areas where the Cima Code has not legislated.       

El Hadj A.B. HAIDARA