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Tag Archives: Abdu Katuntu

Tumwine, MPs clash over disciplinary probe

Kampala, Uganda | THE INDEPENDENT | The Rules Committee of Parliament has once again failed to proceed with its investigation into alleged contempt of parliament by Security Minister Gen. Elly Tumwine. The stalemate came after Tumwine raised a lacuna in the process. Tumwine had appeared for the second time before the …

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Katuntu defends COSASE report on closed banks

Kampala, Uganda | THE INDEPENDENT | The former Chairperson of the Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, Abdu Katuntu has defended the Central Bank Probe report. The report was compiled by COSASE following investigations into the closure and subsequent sale of Teefe Trust Bank, International Credit Bank Ltd, Greenland …

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BoU board failed to supervise bank liquidation process -report

  Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has been blamed for failing to supervise management in the process of liquidating financial institutions. In the COSASE report to parliament tabled by the committee Chairperson Abdu Katuntu, the Central Bank Board’s failure to supervise liquidation of the defunct banks …

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COSASE report: Crane bank closure was illegal

Kampala, Uganda | THE INDEPENDENT | The closure of Crane Bank by Bank of Uganda was illegal. This is according to a report by the committee on Commissions, Statutory Authorities and State Enterprises -COSASE. The report indicated that an analysis of the Bank’s liquidity from 1st January to 24th January …

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BoU faulted over Greenland bank closure

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda should take full responsibility for any likely loss resulting from the closure of Greenland Bank. This is according to a report by Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE). Greenland Bank was in 1999 put under liquidation by …

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MMAKS advocates lawyers quizzed on conflict of interest

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac Walukagga. …

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Controversy over 2nd Cooperative Bank that started in 1997

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda disposed of the Cooperative Bank, which started operations in 1997, the Committee on Statutory Authorities and State Enterprises-COSASE, heard on Thursday. Hannington Wasswa, the Director Commercial Banking in Bank of Uganda disclosed this while responding to a query by COSASE Chairperson, …

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Court summons incoming COSASE chairman

Kampala, Uganda | THE INDEPENDENT | Buganda Road court has summoned the Kawempe South Member of Parliament, Mubarak Munyagwa on corruption charges. The January 15th, 2019 criminal summon was issued by the Buganda Road Court Grade One Magistrate, M. M. Nabende. “You are hereby commanded by the Uganda Government to appear …

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