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COSASE REPORT: National Bank of Commerce moves to sue BoU for UGX295bn as BoU braces itself for over UGX 1 trillion lawsuits

by Muhereza Kyamutetera 0
DIrectors and shareholders of the defunct National Bank of Commerce appear before COSASE in February 2019. They want to be compensated UGX295bn for the "illegal" closure of their bank. Munyagwa's probe is believed by the many to be revisionist and an attempt to exonerate BoU
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NBC's letter to the constitutional court, seeking to amend their case, to add "new material developments" believed to be findings by the Auditor General and COSASE about the illegal closure of the bank on September 2012 National Bank of Commerce (NBC) has become the first bank to drag Bank of Uganda (BoU) to court, following the damning Committee on Commissions, Statutory Authorities and State

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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