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TodayTuesday, April 28, 2026

Crane Bank Takeover

Dr. Michael Atingi-Ego (left), the Deputy Governor chaired the meeting and in attendance was Dr. Tumubweinee Twinemanzi, Executive Director Supervision (2nd left), Susan Kanyemibwa, (2nd right), the Bank Secretary; and Ms. Margaret K. Kasule the Legal Counsel (right).

EXCLUSIVE: Details of Bank of Uganda meeting that approved the controversial liquidation of Crane Bank

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 Bank Governor
November 18, 2020
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A court battle mounted by Dr. Sudhir Ruparelia (right), against what he says and parliament has found out to be an illegal takeover of his bank, has exposed a lot of rot in Mutebile's Bank of Uganda.

BoU’s purported liquidation of Crane Bank illegal- financial lawyers speak out

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 to have
November 14, 2020
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The petitioners want Dr. Louis Kasekende the former Deputy Governor; Mrs Justine Bagyenda, the former Executive Director, Commercial Bank Supervision and Benedict Sekabira, the current Director Financial Markets Development to be brought to justice.

CID confirms commencing investigations against Kasekende, Bagyenda and Sekabira

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 of Uganda
July 5, 2020
LEFT-RIGHT: Former BoU Deputy Governor, Dr. Louis Kasekende, former Executive Director, Supervision, Mrs Justine Bagyenda and Governor, Prof Emmanuel Mutebile. Kasekende and Bagyenda were variously accused of negligence in the variously gone-wrong bank closures.

ROGUE REGULATOR? A timeline of how BoU asset-stripped, took over and illegally sold Crane Bank but is now being choked by the long arm of the law

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 due to
June 26, 2020

 

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