This is the outcome of an extra ordinary board meeting of the Debt Recovery Corporation chaired by Finance Minister Louis Paul Motaze in Yaoundé Monday, May 4, 2020. Bapooh Lipot replaces Professor Joseph Owona appointed member of the Constitutional Council following Presidential Decree No. 2020 / 194 of April 15, 2020.

President Paul Biya had on Thursday, April 30, 2020, appointed Bapooh Lipot Member of the Board of Directors of the Debt Recovery Corporation for a three-year mandate renewable once.

The third class traditional ruler in the country's Center Region and former UPC Member of the National Assembly for Nyong and Nkelle had his ambition to renew his stay at the law-making house squashed when the Constitutional Council disqualified his list for the February 9, 2020 parliamentary elections as UPC factions battling for supremacy presented parallel lists for the said election.

Leaving the Constitutional Council after the verdict last December, Lipot said he remains respectful of state institutions and those who incarnate them.

Hear Lipot: “I am respectful of the institutions of the Republic and of those who embody them. I inherited from Augustin Frédérick Kodock, a political testament that is not easy to assume. But I was trained to assume it. It is in this sense that when the Constitutional Council takes decisions that can, and even, infringe the rights of the individual that I am, I have a thought for Augustin Frédérick Kodock who would never have realized great works for the UPC if he was interested in his political bruises; just as I have a thought for Ruben Um Nyobe who could never have fulfilled this great destiny for Cameroon if he had at any one moment been concerned with his own political bruises. I am a Republican;I remain entirely at the service of the cause of the UPC as Secretary General, but also in the service of the higher interests of my nation. "

Lipot's appointment last week and his election today as Board Chairman of the Debt Recovery Corporation may well be in a bid to take him out of the political wilderness, given that the UPC is an ally of the ruling Cameroon People's Democratic Movement (CPDM) where President Biya is National Chairman.

Created in 1989, the Cameroon Debt Recovery Corporation (SRC) was reorganized by Presidential Decree No. 2020/016 of January 9, 2020. Same day, decree no. 2020/017 approved its statutes. The structure has its place as the operational instrument of political restructuring in Cameroon's banking sector.