Block 15
Seruga Titus: BoU Injects Shs 475Bn In Crane Bank For Three Months But Fails To Account For It
By Seruga Titus One would assume that at the time of closure Crane Bank had cash in all its branches, Crane Bank had cash in safes, and money at the Central Bank, what happened to this money? Did it all go to BoU officials as goodwill, under normal circumstances an audit should have been done…
Counsel Ssemakadde: There Were Loopholes In Crane Bank Receivership
City Lawyer Isaac Ssemakadde says Bank of Uganda and its legal advisors are wrongly interpreting the financial institutions Act by moving ahead illegally to liquidate Crane Bank Limited. According to him, there are two court rulings already from the High Court commercial division and the Court of Appeal which all pin Bank of Uganda for…
‘Unlawful Attempt’- Financial Lawyers Warn BoU On Liquidating Defunct Crane Bank Ltd
The Central Bank through it’s Governor Prof. Emmanuel Tumusiime Mutebile on Friday November 13, 2020 issued an order to liquidate former Crane Bank Limited in receivership which was fraudulently sold to DFCU bank by officials in bank of Uganda in 2016. “In exercise of its powers under section 99 (1) & (2) of the Financial…
I Will Compensate NRA Victims In Six Months If Elected President – Mayambala
The Independent Presidential candidate Willy Mayambala has promised to compensate National Resistance Army War veterans within six months. Luwero district was the epicentre of National Resistance Army-NRA war of 1981-1986. However, 34 years after the war, several veterans and residents are still demanding for compensation packages. While campaigning in Luwero town on Friday, Mayambala said…
Orion Under Fire Over Alleged Vandalism Of Umeme Transformers
Police in Namanve industrial park are investigating the officials of Orion Transformers and Electrics Limited for allegedly vandalizing transformers belonging to power distributor, Umeme limited. Orion Transformers and Electrics Limited specializes in the supply, repair and export of industrial automation equipment. It is one of the companies contracted by Umeme to repair its transformers. However,…
NRM Youth League Members Threaten To Campaign For Opposition
The National Resistance Movement – NRM Youth League members have vowed to shift their efforts and support opposition Presidential candidates if they are not granted autonomous mandate and resources for campaigns. The national youth league executives re-iterated their demand in a press release today in which they said they are not being cared about in…
Presidential Candidate John Katumba Excites Jinja Residents
The Independent Presidential Candidate, John Katumba on Friday launched his campaign trail in Busoga sub-region. Katumba started mobilizing his supporters through a radio talk show at around 11:00 am but midway the radio program, he moved out of the studios and jumped on a waiting motorcycle. Katumba beat security to address mini-meetings in Jinja central…
Exposed: How Mutebile Was Reportedly ‘Duped’ On Confirmed Covid-19 Cases At BoU
An insider in the Bank of Uganda (BoU) has revealed that Deputy Governor and a group of ‘influential’ individuals in the Central Bank duped the Governor Emmanuel Tumusiime-Mutebile that there is confirmed Covid-19 cases. According to a local newspaper eagle online, the reported cases never existed but it was a creation of some individuals together…
Sugar Producers Cry Out To Kadaga Over Unfair Competition
Sugar companies in the Busoga region are seeking Parliament’s intervention in what they call unfair trading from sugar bonds which they accuse of unfair competition. In a meeting with Speaker Rebecca Kadaga, the managing directors of sugar companies revealed that sugar bonds which were earlier banned by President Museveni are still operating. They says that…
Bobiwine Accuses Police Of Denying Him Access To Hotels As Spends Night In A Car
Police and military on Thursday evening blocked National Unity Platform ‘NUP’ Presidential candidate Robert Kyagulanyi Ssentamu alias Bobiwine from traveling to Kyankwanzi via Hoima because the road it is under construction.Kyagulanyi sleeping in the car Bobiwine revealed that they decided to spend the night in Migera on the roadside because police under DPC Patience Namara…