OPINION: Defunct banks scandal: Re-examination of closed banks should not be selective


We are yet to get over the menace that was evidently created by the Bank of Uganda (BoU) in the illegal closure and sale of seven commercial banks between 1993 and 2017. These commercial banks are; Teefe, Uganda Cooperative Union, Global Trust, Crane Bank, National Bank of Commerce and Greenland bank. In this illegal exercise, the central bank under the stewardship of ‘highly trained and experienced’ men and women presided over the most atrocious economic malpractices which depleted many people of their assets,monies,jobs to mention but a few. The most…

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