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Tag Archives: COSASE

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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Cooperators waiting for COSASE report to forge future

Kampala, Uganda | THE INDEPENDENT | Cooperators under their apex body, Uganda Cooperative Alliance are looking forward to the report by the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to guide their next course of action on the defunct 1964 Cooperative Bank. Led by Ivan Asiimwe, the General Secretary …

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MPs query Co-operative Bank asset transfer agreement

  Kampala, Uganda | THE INDEPENDENT | The authenticity of agreements transferring assets of the 1964 Cooperative Bank to that incorporated in 1997 under the Company’s Act has been questioned. For the past few weeks, the commissions committee of parliament has been probing how the Cooperative Bank in 1997 was …

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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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BOU: Lawyers of MMAKS Advocates 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 …

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COSASE ejects Central bank officials, sets final meeting on Tuesday

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has kicked out Bank of Uganda officials led by the Governor, Emmanuel Tumusiime Mutebile for appearing without supporting documents to their presentation. The officials had appeared on Monday to respond to accusations by the shareholders and …

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BoU board wants law amended

Kampala, Uganda | THE INDEPENDENT | The Board of Directors of Bank of Uganda (BoU) has blamed the difficulties faced by the Central Bank on gaps in the Constitution. Article 161 (2) of the Constitution vests the authority of the Central Bank on the Board. According to the law, the Chairperson …

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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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