back to top
HomeNewsFormer MP Kantinti Sent To Luzira Over 260M Loan

Former MP Kantinti Sent To Luzira Over 260M Loan

Published on

- Advertisement -spot_img

Katinti in the middle with Dr.Besigye

Former Kyadondo East Member of Parliament Apollo Kantinti has been sent to Luzira Prison for failing to clear his Bank loan.

Kantinti is to spend six months in Luzira or until he clears all the Sh260 million loan.

The former legislator failed to clear the loan he took from Standard Chartered Bank in June 2016.

He allegedly borrowed Shs300 million from the said bank which he was supposed to pay back in 50 installments over a period of four years, with a 25 per cent interest.

“In 2017, he however, started defaulting on his monthly payments which compelled the bank to run to Kampala High Court,” the local news website stated.

In May this year, High Court Deputy Registrar in charge of executions Flavia Nabakooba issued an arrest warrant for Kantinti which prompted his arrest on June 27, 2019.

In 2017, Kantinti lost a by election to musician turned politician Robert Kyagulanyi alias Bobi Wine.CreditWatchdog

Related

Ex-Lord Mayor Erias Lukwago Further Remanded; Bail Ruling Deferred To Email

Former Kampala Lord Mayor Erias Lukwago will remain on remand after the court postponed...

Uganda’s Kingfisher Oil Project Hits Final Phase, 99% Facility Completion

A high-level Government delegation led by the Vice President of the Republic of Uganda,...

Wiz Kaka Teams Up with Citizen Kirabo for New Afrobeat Anthem Ewooma

Ugandan Afrobeat sensation Wiz Kaka has released his highly anticipated new single, Ewooma, featuring...

Miss Uganda 2026 Season Unveiled

The search for the woman who will wear Uganda's most coveted crown is officially...

More from The Capital Times

Business Boom In Namugongo Ahead Of Martyrs Day

Business has picked up this morning at Namugongo Martyrs shrine according to traders. The...

Africa Can Feed Itself-Museveni Declares End To Food Imports With Homegrown Solutions

President Yoweri Kaguta Museveni has reiterated the importance of food self-sufficiency in Africa, stressing...

Here is why the Faras Uganda is the Ultimate Convenience Mobility App for Every Ugandan

Kampala, Uganda – In a fast-paced world where time is increasingly precious, Ugandans are...