Financial scandal rocks Côte d’Ivoire’s teachers’ mutual fund

The long-running investigation into the Côte d’Ivoire Teachers’ Mutual Fund (Mupemenet-CI) has concluded, with the case now heading to court. Prosecutors allege embezzlement totaling over 5 billion West African CFA francs, prompting the immediate detention of key figures involved.

Following months of meticulous review, on Tuesday, May 19, 2026, the Economic and Financial Crimes Prosecutor’s Office ordered the arrest of two senior officials from the mutual fund: its Executive Director, Agré Lynx Bourgelat, and the Chief Financial Officer, Koné Allagnan. Both were transferred to the former MACA prison facility in Abidjan, now designated as the Abidjan Penal Pole (Ppa).

During interrogations, the accused officials implicated Dao Ibrahim Kinan, a businessman and political figure. Kinan, who owns multiple companies including IDK, Kinane, and TICS Services—along with serving as leader of the political party Les Avertis—was accused of orchestrating a complex scheme involving shell companies. These entities allegedly facilitated the systematic siphoning of funds from the teachers’ mutual fund.

Upon further questioning by investigators, Kinan himself was placed under arrest and taken to the same detention center in Abidjan. The case marks one of the most significant financial scandals to emerge from Côte d’Ivoire’s education sector in recent years.