He added that they had also accelerated recoveries for the bad book to cover the capital inadequacy as well as engaging in discussions with strategic investors since 2015 that had shown willingness to invest in the bank.

The value of the disputed properties and leaseholds of the defunct Crane Bank Limited that were taken over by dfcu in 2017 remain unknown after the buyers made a U-turn and admitted that they do not have a valuation report from the Chief Governmen...

Interacting with Members of Parliament in the presence of the governor and his deputy, Dr Louis Kasekende, the board members and other stakeholders, Mr Kasaija showed remorse over the disputed closure of banks and accused the central bank of actin...

He told the MPs that Crane Bank paid Shs1.2b to buy deposits, treasury bills and non-performing loans from NBC.

Sudhir made the statement while appearing before parliament’s Commissions, Statutory Authorities and State Enterprises (COSASE) Committee, which is currently investigating the closure and sale of commercial banks.

Bukedea Woman MP Anita Among and Iganga Municipality MP Peter Mugema added that attempts by the Crane bank to secure a Shs 79 billion loan from the central bank aborted after the agreement between both parties for the money to be availed.

Information before the Parliament’s Commissions Statutory Authorities and State Enterprises Committee show that before Crane Bank managers signed a confidential deal with Bank of Uganda on September 27 2012, they (BoU) first called the then Managi...

He said that National Bank of Commerce had duly complied with a requirement to raise 7 billion Shillings within four days and held an annual general meeting in which a new Board of Directors were elected and approved by BOU.

The dfcu team led by Mr Jimmy Mugerwa, the bank chairman told the MPs investigating irregularities in the closure of banks that they discovered a number of non-performing assets, questionable loan approvals, poor credit administration and collater...

The National Bank of Commerce was majorly owned by businessmen from Kigezi region, among them former Premier Amama Mbabazi and Dr Ruhakana Rugunda, BoU Governor Emmanuel Tumusiime Mutebile, Amos Nzeyi, Jim Katugugu Muhwezi, Dr Ezra Suruma, and ret...

The shareholders include former prime minister Amama Mbabazi, businessman Amos Nzeyi, former Supreme court judge George Wilson Kanyeihamba, Mathew Rukikaire, among others.

Appearing before the House Committee on Commissions, Statutory Authorities and State Enterprises yesterday, the team of shareholders led by Mr Ahmed Nsubuga placed before the central bank administration demands which include unresolved liquidation...

Leading shareholders before parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), Ahmed Nsubuga said that there was suspected fraud in the handling of securities for loans and advances and in the disposal of ...

Some of the cases involving huge sums of money include a dispute between Church of Uganda and Land Coin Limited worth sh48 billion.

Some of the cases involving huge sums of money include a dispute between Church of Uganda and Land Coin Limited worth Shs 48 billion.

He demanded that COSASE compels the government to clarify how they allowed individuals to register a company without a resolution of shareholders.

By December last year, Mr Rukikaire said former shareholders of NBC suffered losses worth Shs295b and want compensation.