Cameroon decided last August to fight Boko Haram after a series of incursions by the Islamist fighters in the far north of the country where 2 soldiers were killed in a Boko Haram attack earlier this month.
However, with corruption rife across Cameroon, the government has set up an inter-ministerial committee to ensure that the funds aren't mismanaged and stolen by corrupt officials.
Hundreds of tonnes of food aid have also been donated to help the army since the beginning of the fundraising several weeks ago, it added.
Addressing fears that the funds could be misappropriated, the government said a special account has been opened for the funds.
Local media said President Paul Biya recently fired two army officers for embezzling food aid for the troops.
Nigeria’s military has claimed a series of victories over the group across the northeast since an offensive launched in February with support from Cameroon, Chad and Niger.
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