Court Wants BOU To Explain Why Dfcu Has Not Paid Former Crane Bank Client

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Bank of Uganda has been ordered to appear before the Bailiffs and execution division of the high court to explain why the money of a former Crane Bank employee being held in dfcu bank has not been paid as ruled by a high court about two months ago, The Spy Uganda reported quoting a garnishee order nisi issued by court. The former Crane Bank employee Ismail Shakil Pathan sued Bank of Uganda and dfcu bank indicating that wrongful deductions had been made on his account which had also been blocked…

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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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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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CCTV Cameras Pin Bagyenda On fellying Bank Documents .

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Former Bank of Uganda (BoU) Executive Director in-charge of commercial banks Supervision, Ms Justine Bagyenda finally accepted to have carried documents out of the central bank but maintained that she carried personal documents related to her consultancy work and not the sale of commercial banks; this was during last Wednesday while appearing before Cosase committee Ms Bagyenda said this while she and other BoU officials were appearing before Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) for questioning over controversial closure of seven commercial banks whose vital documents relating…

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Tough Times For DFCU Bank As Key Investor CDC Quits

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In what looks like loss of confidence and interest, CDC Group, has expressed interest to sell their commercial interests in DFCU Bank. CDC Group, Britain’s oldest Development Finance Institution has been investing in DFCU Bank since 1964. CDC, according to media reports, has already written to dfcu informing them of their incoming decision. Irina Grigorenko, CDC’s Investment Director in charge of Financial Institutions, has been quoted by media saying they are undertaking a review of its investment in DFCU Limited. This, Grigorenko said, may lead to the disposal of some…

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