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TodaySunday, April 26, 2026

Tumusiime Mutebile

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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Bank of Uganda Governor Emmanuel Tumusiime says financial institutions are free to decided on credit relief for their customers. Courtesy photo

Foreign banks do not require central bank authorisation to lend to Ugandan entities; Bank of Uganda clarifies on controversial court ruling

Professor Emmanuel Tumusiime Mutebile, the Governor, Bank of Uganda has unequivocally said that foreign financial institutions that do not use locally-raised deposits to lend to Ugandan entities do not require the authorisation
October 14, 2020
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Following a lengthy court process that exposed both the incompetence of the legal team at the central bank and the massive flaws within its regulatory practices especially in the way several banks were taken over, closed and sold, under Mutebile’s watch or lack thereof, the central bank’s much publicised case against the billionaire businessman has crumbled like a pack of cards. It remains to be seen how much more the central bank will lose in terms of legal costs.

Mutebile eases Central Bank Rate to 7 per cent; urges banks to follow suit

Bank of Uganda has today, for the second time in three months, further eased down the Central Bank Rate for June 2020 to 7 per cent, setting another record low since the
June 8, 2020
The Katuntu-led committee has recommended several sweeping changes both at BoU and in the laws setting up the central bank so as to align it with the constitution and improve accountability as the scandal prone central institution

Presidential Committee recommends urgent and comprehensive sweeping Central Bank reforms

A committee appointed by President Yoweri Museveni to study several complaints made to the Inspectorate of Government and Parliament about Bank of Uganda, has recommended “urgent and comprehensive review” of what it
June 29, 2019
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A screen grab from NBSTV of Kasekende at the Jinja event in which he spoke out defiantly against the COSASE recommendations

COSASE recommendations on BoU: a defiant Kasekende disagrees with COSASE, Mutebile

In what is perhaps Bank of Uganda’s first response to parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) report that implicated the central Bank and several of its high ranking
April 25, 2019
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