Abbas Tolli
Abbas Mahamat Tolli | |
|---|---|
| Born | 1972 Abéché, Chad |
| Occupation(s) | Economist, Banker, Politician |
| Years active | 2001–present |
| Known for | 5th Governor of the Bank of Central African States (2017–2024) |
Abbas Mahamat Tolli is an economist who held the position of the 5th Governor of the Bank of Central African States from February 2017 until February 2024.
Background and education
Born in 1972 in Abéché, Chad, Tolli earned a degree in Business Administration from the University of Quebec at Outaouais.
Career
- 2001-03: Head of the Customs Department
- 2003-05: Director at the President’s Office
- 2005: Secretary of State responsible for Finance
- 2005-08: Chadian Minister of Finance and Budget
- 2008-10: Secretary-General of BEAC
- 2011-12: Minister overseeing Infrastructure
- 2012: Secretary-General of COBAC. During his tenure, Tolli spearheaded the rollout of a new IT strategic plan and updated banking regulations, which encompassed revised capital standards and strengthened internal control mechanisms.
- 2015-16: President of the BDEAC. Under his guidance, BDEAC executed a reform initiative to tackle resource shortfalls identified by a regional audit. This included upgrading software and accounting frameworks, increasing capital, restructuring governance, recruiting personnel, and enhancing loan recovery processes.
- 2017-24: Governor of BEAC. Taking office amid diminished international reserves and fears of a regional economic downturn, Tolli launched reforms targeting monetary policy operations, macroeconomic governance, financial sector oversight, and internal administration informed by a thorough operational audit. These measures contributed to currency zone stabilization and reinforced institutional structures.
On December 13, 2024, Tolli was nominated by Chad’s Government as a candidate for the Presidency of the African Development Bank for the May 2025 election, with backing from the Economic Community of Central African States.
Controversy
In April 2022, the Central African Republic became the second nation worldwide to declare Bitcoin as legal tender. Tolli opposed this decision, citing conflicts with BEAC’s regional agreements. As a result, CAR suspended implementation of the legislation pending development of BEAC regulations concerning cryptocurrencies in the region.