Museveni Must Sack Incompetent Mutebile, Kasekende, Kasaija, Citizen Says

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Dr. Paul Bamutaze, the Head of Business Development at Dei Technologies President Yoweri Museveni must sack Bank of Uganda governors, Emmanuel Tumusiime Mutebile, Louis Kasekende and the finance minister Matia Kasaija because they are incompente, a petition by a concerned citizen, Dr Paul Bamutaze was been received by State House Anti-Corruption Unit on February 19 Dr Paul Bamutaze, reveals that he is concerned by the ongoing mismanagement of the affairs of the central bank and the illegal sale of properties of several banks such as Crane Bank, Global Trust Bank and National Bank of Commerce among…

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Self – styled Criminal Gang operating in Hoima District Dismantled

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The Police and Sister Security Agencies in Hoima dismantled a self – styled criminal gang operating in Kyabisagazi II village, Kigorobya Sub County, in Hoima district, and arrested 78 suspects; on the 13th February, 2019, they were worked on with aniron hand and were recklessly using their weapons of bows and arrows to promote acts of lawlessness in the area. The criminal gang which comprises of youth and illegal migrants of Congolese origin (Alur, Kebu and Lendu), consolidated false control over the entire neighborhood grabbing land, robbing road users, intimidating…

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SHOCKER: No Records for 4Bn BoU Gave MMAKS Advocates

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Members of Parliament were stunned on Tuesday when MMAKS Advocates failed to produce a single document from a transaction of staggering Shs 4bn they received from Bank of Uganda during the sale of Crane Bank. MMAKS Advocates boss, Timothy Masembe Kanyerezi interfaced with Members of Parliament from the committee on Commission, Statutory Authority and State Enterprises, who are investigating the sale of defunct commercial banks. Scheduled to appear in the morning at 10am in the morning, Masembe instead reported to Parliament in the afternoon, and more so, without the required…

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LT GEN LAKARA COMMENDED FOR BUILDING CAPACITY AT UGANDA RAPID DEPLOYMENT CAPABILITY CENTRE (URDCC).

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Lt Gen Nakibus Lakara has been applauded for building capacity at the Uganda Rapid Deployment Capacity Centre( URDCC) in terms of resources, infrastructure, personnel and training during his two years of service as the Commandant of the centre. This was revealed by the Chief of Defence Forces Gen David Muhozi while officiating at the hand over and take over ceremony between the out going Commandant URDCC Lt Gen Nakibus Lakara and in coming Comdt Maj Gen Paul Lokech at the URDCC Headquarters in Jinja Gadaffi Barracks. “Gen Lakara has achieved…

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Government to Pay 2000 Veterans

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State minister for Defence in charge of Veteran Affairs (coffee brown suite)in group photo with the veteran community at Isingiro District Headquarters On 9th February 2019, the ministry of Defence and Veteran Affairs announced completion of over 2000 files for Veterans ready for payment in a move to clear the pending pension case backlog of pensions and gratuity out of 79,084 files. Those ear marked for payment include, soldiers who served in various capacities since Uganda’s post-independence. They include; World war II, UNA, Uganda Defence Forces among others. State minister…

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Idle BoU Board Blamed For Banks Closure Irregularities

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The Board of Governors (BoD) of Bank of Uganda (BoU) have been blamed for abdicating their duties as supervisors of the central bank management leading to the controversial and irregular closure of the seven defunct Banks. The blame was made the parliament’s Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) when the BoD and top management of the central bank led by the governor Emmanuel Mutebile made an appearance. In a meeting that was held today to discuss the governance challenges within the Central Bank and attended by the…

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Crane Bank Shareholders Reveal How Crane Bank Was Failed

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It was a story that played in the public eye yet the fact, at the same time, were hidden from the public. And in a sudden turn of events, Crane Bank was no more – except for their iconic branches which now bore the blue brand colors of dfcu Bank.  And now, for the first time, businessman Dr. Sudhir Ruparelia, the proprietor of the defunct Crane Bank has in detail revelead how Bank of Uganda (BoU) allegedly caused the collapse of his Shs1.8trillion worth commercial Bank. Sudhir was on Wednesday…

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DFCU Bank officials kicked out of COSASE for presenting fake Documents

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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…

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First Edition of Tarehe Sita Marathon Launched in Kitgum.

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The first ever Tarehe Sita Marathon took place in Kitgum town as part of a cocktail of activities that precedes the Army day celebrations of Tarehe Sita. The run was intended to support H.E the president’s call to fight non communicable diseases through a healthy living. The 1st Edition of Tarehe Sita marathon that attracted residents of Acholi sub region and UPDF officers and men was flagged-off at Kitgum Town Council headquarters. The Chief of Defence Forces General David Muhoozi was the chief runner while the UPDF General Officer Commanding…

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National Bank of Commerce Shareholders Demand Shs290Bn In Compensation

Former Prime Minister Amama Mbabazi (C) and other shareholders of National Bank of Commerce appearing before COSASE on Monday. PHOTO BY Max Patrick Ocaido

Former Prime Minister Amama Mbabazi (C) and other shareholders of National Bank of Commerce appearing before COSASE on Monday. PHOTO CREDIT Max Patrick Ocaido Bereaved former shareholders of National Bank of Commerce appearing before the parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), which is investigating Bank of Uganda (BoU) over the controversial closure of seven commercial banks, on Monday demanded that Bank of Uganda compensates them with a financial gain Shs290bn. The unfortunate former shareholders include former Prime Minister John Patrick Amama Mbabazi, businessman Amos Nzeyi, former…

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