Fresh from securing an English appellate court order that dfcu Bank, its former management and directors, must answer claims that they participated in corruption and bribery of Central Bank officials…
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The wheels of justice turn slowly, but grind exceedingly fine, Bank of Uganda has sadly learnt, albeit too late. This is after pouring several billions of taxpayer money, down the…
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Despite having chaired a meeting that resolved that Bank of Uganda should await a Supreme Court’s decision on the transition of Crane Bank Limited from receivership to liquidation, the Deputy…
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Prior to 2017 and for a long time, everyone knew Bank of Uganda Governor, Prof. Emmanuel Tumusiime Mutebile as a no-nonsense man. The tough-talking Mutebile, together with her iron-lady Executive…
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Attempts by Bank of Uganda to liquidate Crane Bank are illegal and could cost taxpayers more money, should it go ahead, several lawyers that CEO East Africa magazine has spoken…
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Slightly over two years after an investigation by the Parliamentary Public Accounts Committee on Commissions, State Authorities and State Enterprises (PAC – COSASE) ended, with stern recommendations to punish Bank…
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2015: For much of 2015, interest rates rose sharply, opening the year at an average 21.69% and by February 2016, had reached a 4-year high of 25.22%. This was partly…
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In 3 years alone, dfcu has earned in excess of UGX60 bn in profits from the Crane Bank deal. Add that to the UGX39 billion dfcu was aided to evade in interest on the deferred purchase price to the UGX37 billion profit dfcu stands to make, if BoU goes ahead to pay the UGX47 billion claim, dfcu Bank will have earned about UGX140 billion- that is all before they even complete the full UGX200bn purchase price for Crane Bank!
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