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Bank Of Uganda loses appeal, ordered to pay millions to former employees
Bank of Uganda. The Bank has increased the Cash Reserve Requirement by 2 percentage points to 10 percent, effective 23rd June 2022. Courtesy
The Court of Appeal has dismissed with costs, an appeal in which the Bank of Uganda (BOU) had sought to challenge a labour court decision that awarded hundreds of millions to its former employees.
In February 2016, the Industrial Court ordered the Central Bank to pay UGX100 million to each of the five former workers, with interest at 21 percent.
The five; Joseph Kibuuka, George Tabu, Nelson
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