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Tag Archives: central bank

Nigerian president suspends central bank governor

Abuja, Nigeria | Xinhua | Nigerian President Bola Tinubu late Friday suspended Godwin Emefiele from the governorship of the country’s central bank, ahead of planned reforms in the financial sector. Emefiele served as governor of the Central Bank of Nigeria since June 2014. The move came following an investigation by the …

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South African central bank vows to tackle money laundering

Johannesburg, SA | Xinhua | The South African Reserve Bank (SARB), the country’s central bank, said it is committed to the fight against money laundering. The SARB made the remarks in a statement on Friday after the Financial Action Task Force, a global money laundering and terrorist financing watchdog, placed South Africa …

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BoU seeks more time on proposed constitutional amendments

Kampala, Uganda | THE INDEPENDENT |  The Deputy Governor Bank of Uganda (BoU), Michael Atingi-Ego has asked parliament for more time to present the institution’s opinion on the proposed amendments to Article 161 of the Constitution regarding the composition of the Central Bank’s board and others. Atingi-Ego together with the BOU …

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Bankers oppose planned cash withdrawal tax

Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association-UBA is petitioning the Central Bank to block the proposed taxation of cash withdrawals from the bank. The proposal has drawn condemnation across sections of the public after the Ministry of Finance Planning and Economic Development wrote to the Governor of the …

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Central bank tasked to stop mortgages on public land

Kampala, Uganda | THE INDEPENDENT | The Chairperson of the Commission of Inquiry into Land Matters Justice Catherine Bamugemereire has asked the Central Bank to intervene in the issuance of mortgages on reserve land like forests and wetlands. Bamugemereire’s plea is based on reports that chunks of government land have …

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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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MPs punch holes in COSASE bank probe report

Kampala, Uganda | THE INDEPENDENT | Legislators have punched holes in the recommendations in the Central Bank Probe report, describing them as wanting. The recommendations are part of the report compiled by the Committee on Commissions, Statutory Authorities and State Enterprises- COSASE following investigations into the closure of seven commercial banks …

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COSASE report pins Sekabira, Bagyenda on defunct bank loan portfolios

Kampala, Uganda | THE INDEPENDENT | Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has recommended that Central Bank officials involved in the sale of loan portfolios for five defunct banks be held personally liable. The banks include International Credit Bank, Greenland Bank, Cooperative Bank, Global Trust Bank …

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Probe into Cooperative bank closure takes twist

Kampala, Uganda | THE INDEPENDENT | The probe into the closure of Cooperative Bank took a twist after the committee investigating the irregular sale of commercial banks resolved to summon the Auditor General John Muwanga to clarify on allegations that there were two cooperative banks. This was after shareholders of …

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