DFCU Bank officials kicked out of COSASE for presenting fake Documents


The Parliamentary committee on Commissions, Statutory Authorities and State Enterprise (COSASE) has thrown out Dfcu Bank bosses for presenting unauthentic documents regarding the purchase of defunct Crane Bank.

Dfcu officials led by chairman board of directors Jimmy Mugerwa were appearing before COSASE as witnesses in the closure and purchase of Crane Bank in the ongoing Bank of Uganda probe.

During the meeting, Dfcu’s Mugerwa made a defense presentation in regards to the terms of purchase of Crane bank agreement, however the presentation was backed by fake documents which were neither dated nor signed by the bank authority. This prompted MPs of the committee to kick them out and allow them reorganize themselves.
“Its prudent for this committee to throw out dfcu team because they are so confused and disorganized, they are fidgeting with their own documents. It is in the best interest that dfcu withdraws and reorganizes themselves.

In the report, they are valuing Crane bank assets but without a specific report from that government valuer on how they came into those figures,” Odonga Otto (Aruu South MP) said. MPs collectively agreed that dfcu officials withdraw their documents.

In his ruling, COSASE chairperson Abdu Kauntu agreed to kick out dfcu officials and adjourned the meeting to Thursday to allow them reorganize their documents.

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