Crane Bank shareholders protest BoU’s legal manoeuvres to avoid compensation costs; Supreme Court to make a ruling on notice

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 pockets of several of its highly billed external law firms, in what would eventually amount to putting good money after bad money. But let us rewind the clock first, back to 2016. The Central Bank, on 20th October 2016, at the command of the then Deputy Governor, Dr Louis Kasekende and Director of Commercial Bank Supervision, Justine Bagyenda, in the exercise of their statutory powers, seized Crane Bank, at the…