Borrowers and owners of the defunct International Credit Bank (ICB), Greenland Bank and Cooperative Bank whose properties were taken over and sold by Bank of Uganda irregularly and at giveaway prices, will have to wait a little bit longer for justice to be served. CEO East Africa Magazine has learnt that the Office of the Directorate of Public Prosecutions (ODPP) has asked the Uganda Police’s Criminal Investigations Directorate to conduct further inquiries on the allegations made against former Bank of Uganda officials, in the irregular sale of the banks. The case was opened by the Criminal Investigations Department (CID), on…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Borrowers and owners from the defunct International Credit Bank (ICB), Greenland Bank and Cooperative Bank whose properties were taken over and sold by Bank of Uganda, in a process that the Parliament of Uganda found to be flawed, could be close to getting justice as the Directorate of Public Prosecutions (DPP) has ordered police to round up, question and search the homes of a city lawyer and two former officials and one current official of Bank of Uganda. Mr. Odiit Andrew, the Senior Assistant DPP/Head, Land Crimes Department at the Directorate of Public Prosecutions in a July 7th 2020 (Ref:…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The Criminal Investigation Department of police (CID) has written to Bank of Uganda to produce the current Director Financial Markets Development, Benedict Sekabira in court to answer charges of concealing title deeds under section 278 of the penal code. This comes after two years since the Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) chaired by Bugweri County MP Abdu Katuntu, recommended that Central Bank officials involved in the wrongful and illegal sale and closure of defunct banks be held personally liable. The banks included International Credit Bank, Greenland Bank, Cooperative Bank, Global Trust Bank, National Bank of…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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 officials implicated in the wrongful and illegal closure and sale of 7 defunct banks, shareholders of the closed banks could be about to see justice served. The Criminal Investigations Department (CID) of Police has confirmed that it has started investigations into the matter with a view to bringing the accused officials to court to face justice. The investigations follow a petition by a one Nelson Habaasa and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
An organisation calling itself the Uganda Poor Youth Movement, has petitioned President Yoweri Museveni to relieve Mrs Irene Mulyagonja Kakooza, of her duties over what they called “failure to fulfil…
The Inspector General of Government (IGG) Mrs Irene Mulyagonja Kakooza has denied that her office cleared the former Executive Director, Supervision at Bank of Uganda over illicit wealth accumulation. She…
Only a fool does things the same way but expects different results. There’s been a raging debate in parliament and in the media regarding the recapitalisation of Bank of Uganda….
Before the dust settles on the explosive Auditor General’s report into the closure and sale of 7 defunct banks, in which Bank of Uganda was implicated for gross negligence and causing financial loss, to taxpayers, fresh details leaking from BoU indicate Governor Emmanuel Mutebile unsuccessfully tried to fight off “exorbitant
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Even before the dust settles over revelations that disgraced former BoU Executive Director, Mrs Justine Bagyenda literally vended and in the words of Parliam Even before the dust settles over…
After months of waiting, the Inspectorate of Government report on the incomes, assets and liabilities of the sacked former BoU Executive Director in Charge of Commercial Bank Supervision, is ready,…
