Wave Accounts, Orange Money: New Warning After BCEAO Decision

Starting November 2nd, BCEAO raises the electronic account limit to 4 million FCFA per customer, up from 2 million, and the monthly recharge limit to 15 million FCFA. The measure aims to promote financial inclusion and mobile money usage but raises concerns about security, including risks of fraud and ghost clients. Governor Jean-Claude Kassi-Brou signed instruction No. 020 to implement this reform. Experts warn that this change could complicate the traceability of money in circulation and increase financial system risks.