BOU Probe: COSASE To Meet Shareholders Of Seven Banks Closed By Bank Of Uganda


Former shareholders of the seven commercial banks controversially closed down by Bank of Uganda (BoU) have been summoned to appear before the parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) starting next week. First to appear before cosase will be former shareholders of National Bank of Commerce (NBC) and Teefe Bank together with Nile River Acquisition Company (NRAC). They will testify about the circumstances that led to the closure of their banks. Offshore defunct NRAC was used by BoU to buy the assets and liabilities after the closure of International Credit…

Read More