The Truth Behind the BOSECX vs Yellow Card Case

By Bodang Sebastin Limen — Founder & CEO, BOSECX FX LTD

Background
In recent weeks, various AI-generated summaries online have circulated a dangerously false narrative: that BOSECX FX LTD owes Yellow Card Cameroon LTD over 500 million XAF. As the founder of BOSECX, I find it necessary to set the record straight with facts backed by legal judgment and regulatory authority.

What Really Happened
On 17th October 2023, BOSECX FX LTD entered into a trade agreement worth $500,000 USD with Yellow Card Cameroon LTD. Another party traded $250,000 USD separately. After receiving funds, Yellow Card failed to deliver on its end of the transaction.
To distract and escape accountability, Yellow Card drafted a one-sided settlement agreement and tried to coerce us into accepting 150 million XAF to drop the matter. We refused and took the case to court.

The Court’s Decision
On 19 April 2024, the Court of First Instance of Douala-Bonanjo, under Judgment N°738/FD/COR, ruled in favor of BOSECX FX LTD.
Judgment Highlights:
300 million XAF awarded as capital recovery
125 million XAF awarded in damages and penalties
Total owed to BOSECX FX LTD: 425 million XAF
Yellow Card’s General Manager, Banyong Fonyam Jonie Jr sentenced to 12 months imprisonment
Their other representative, Ikeng Henga Francine Arielle, sentenced to 5 years. She’s currently on the run and a warrant on her head.

Regulatory Action
On 17 December 2024, COSUMAF — the financial markets regulator for the CEMAC region — issued Decision N°34/24/PSS-COSUMAF:
Yellow Card Cameroon LTD’s license was officially withdrawn
Reasons included non-compliance, criminal charges, and management failures.

The Damage of Misinformation
Despite these rulings, Google and other platforms still feature AI-generated summaries falsely claiming we owe Yellow Card. This is not just incorrect. It is a defamation of a compliant, regulated, and legally vindicated African financial institution.

Final Word
At BOSECX FX LTD, we operate with transparency and integrity. We will continue to push for accountability, legal enforcement, and correction of misinformation.
We invite media, regulators, and the public to request documentation and stand with truth over algorithms.

NB: THECOURT CASE DOCUMENTS CAN BE PROVIDED UPON REQUEST.