Meeting in plenary session at the Governors' Palace under the chairmanship of Joseph Djogbénou, the deputies of the 10th legislature adopted Law No. 2026-07 relating to the repression of counterfeiting and other attacks on monetary symbols in the Republic of Benin.
This new legislation replaces the November 2003 law, which had become inadequate in the face of evolving financial crime and the increasing use of new technologies by counterfeiting networks. The law comprises 29 articles divided into four chapters.
The crackdown on the circulation of counterfeit banknotes has been strengthened. Anyone who knowingly transports, possesses, imports, or puts counterfeit currency into circulation faces a sentence of five to seven years imprisonment and a fine of at least five million CFA francs.
The penalties are even more severe when the offenses are committed by an organized group. The perpetrators then risk the maximum sentences provided for acts of counterfeiting, which can reach twenty years' imprisonment.
The text also takes into account the technological tools used in these illicit activities. The manufacture, import, possession, or use of equipment, software, or hardware intended for producing counterfeit currency becomes a criminal offense punishable by five to seven years in prison.
Additional penalties are also foreseen. Convicted individuals may be banned from working in the banking and financial sectors for up to twenty years. Foreigners involved in these offenses may be subject to a temporary or permanent ban from entering Benin. As for companies found guilty, they face temporary closure or even dissolution.
Finally, the courts may order the publication of certain convictions by posting or in the media in order to strengthen the deterrent effect of the law.
During the same session, the deputies also authorized the ratification of two international conventions relating to banking supervision within the WAEMU and to the management of transboundary watercourses and international lakes.
