Bank of Uganda has today placed a notice in newspapers indicating its intentions to liquidate and wind up affairs of Crane Bank Limited. A Strategy Plan developed by Ms Margaret Kasule,the Director Legal, and submitted to the Governor Tumusiime Mutebile reveals plans by BoU to illegally liquidate Crane Bank. The plan, titled: Proposed Strategy on…
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…
With the aggrieved filing of a civil suit, the looming legal battle between former employees of Crane Bank Limited (CBL) and DFCU bank has taken shape. The aggrieved belief that they were hoodwinked by the new employer (DFCU) when DFCU took over CBL activities in January 2017, terminated some of their contracts, whilst others were…
Several activists in Uganda under their umbrella body Uganda Poor Youth Movement, have petitioned President Yoweri Museveni to reign on Bank of Uganda (BoU) officials who are causing the country hundreds of millions in losses as they waste money in a case against tycoon Suhdir Ruparelia, which they lost. As a result of their incompetence…
By Andrew M. Mwenda Last week, Bank of Uganda (BOU) issued a press statement in which it promised to appeal a ruling by the Court of Appeal in a case against businessman Sudhir Ruparelia over Crane Bank. Yet the statement did not deal with the reason why the court rejected all the grounds of appeal…
The Bank of Uganda (BOU) has said it will be petitioning the Supreme Court against the dismissal of the UGX.397BN Crane Bank case, by the Court of Appeal claiming the judgement of this case has a crucial precedent that affects its powers. The Court of Appeal last week dismissed an appeal filed by Bank of…
A whistleblower has petitioned President Yoweri Kaguta Museveni and the Anti-Corruption Division (ACD) of the High Court, to indict and hold culpable three former executives of the Bank of Uganda, over allegations of involving themselves in corruption and the dubious sale of Crane Bank to dfcu Bank. The petitioner, Sam Brian Kakuru, prays to the…
The Bank Of Uganda has fired over Seven directors in an ongoing investigation which established that some of them were involved in fraud, mismanagement of office, and embezzlement of funds with the Ex -Deputy Governor Dr. Louis Kasekende and Ex Executive Director of Operations Justine Bagyenda. In an internal memo linked to this website, we’ve…
The President of Uganda Yoweri Kaguta Museveni has appointed Dr. Michael Atingi-Ego as the new Deputy Governor, Bank of Uganda (BoU). Mr Museveni, announced the appointment in a Sunday March 29, 2020 tweet, a day after the Central Bank board of directors unanimously picked the Director of Research at Bank of Uganda, Dr Adam Mugume,…
The Kadongokaku celebrated Singer turned Politician Mathias Mulumba Walukaga has dropped a new hit bang titled “Akanyomonyomo”. In his latest song, bitter Walukaga has warned against impunity and complacency where he stung bosses at the Central Bank Of Uganda, it’s advisors and lawyers for not learning from their past experiences and mistakes. The musician also…
