ERSUMA is the Regional School of Magistracy of the OHADA, grouping 17 member countries. Ako Etoundi Felix is accused of financial malfeasance and mismanagement of the institution of which he was responsible.
According to Article 2 of Decision No. 008/CM/Ohada/2016 included in the columns of the newspaper Repères of 3 August 2016, Dr. Felix Ako Etoundi is no longer the CEO of ERSUMA, the Regional School of the Magistracy of the OHADA (Organization for the Harmonization of Business Law in Africa). He is accused of financial malfeasance and mismanagement of the institution of which he was responsible. He would’ve also engaged the ERSUMA in signing financial agreements without permission. Serious errors that have earned him his post at the 41st session of the Council of Ministers of OHADA, met on 16 and 17 June 2016 in Brazzaville, Congo.
According to the newspaper, it is after an audit by an international firm that was revealed “embezzlement and bad administrative managements of the structure.” After the dismissal, Felix Ako Etoundi is trying to make remedies that bear no fruit yet.
The 4th grade magistrate and Doctor of Business Law and specialist in OHADA Law first sought a re-examination of the case due to late constitution of his board. He then tried, according to the newspaper, to distract the audience by evoking the irregular composition of the Disciplinary Board. The former CEO of ERSUMA contested actually the presence in the hearing room of Price Waterhause Coorpers, the representative of the auditing firm and the Permanent Secretary of OHADA, two parties that are not part of Disciplinary Board.
Having questioned the impartiality of auditors, the newspaper stresses that Felix Ako Etoundi considers the conclusions of the Council of Ministers “false, light and low.” Assertions that the applicant has failed to support reasonable evidence, according to the newspaper Repere.