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 …
Read More »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 …
Read More »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 …
Read More »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, …
Read More »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 …
Read More »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 …
Read More »Greenland bank shareholders demand accountability of assets
Kampala, Uganda | THE INDEPENDENT | A section of former shareholders of Greenland Bank have demanded that the Central Bank accounts for the entire period the institution has been under liquidation. The bank was in 1999 put under liquidation by the Central Bank which could later on 5th December 1998 take …
Read More »Natonal Bank shareholders demand Sh295bn for ‘illegal closure’
Kampala, Uganda | THE INDEPENDENT | Former Shareholders of the defunct National Bank of Commerce (NBC) are demanding sh295 billion as compensation from Bank of Uganda (BoU) over the closure of their Bank. The shareholders include former Prime Minister Amama Mbabazi, businessman Amos Nzeyi, former Supreme Court Judge George Wilson …
Read More »Museveni’s BoU probe details leak
IGG accused, Mutebile, Kasekende under fire Kampala, Uganda | HAGGAI MATSIKO | Details of a draft report prepared by the Inspector General of Government (IGG) into the controversial February 2018 staff changes at Bank of Uganda (BoU) have leaked and sparks are already flying. The leakage occurred partly because some …
Read More »FDC, Kadaga face-off exposes Among, Katuntu
Legal fight over COSASE looms Kampala, Uganda | HAGGAI MATSIKO | Jan. 14 could see sparks in parliament in a dispute between Speaker Rebecca Kadaga and leaders of the opposition over the tenure of the committee on Commissions, Statutory Authorities and State Enterprises (COSASE). Led by Bugweri County MP Abdul Katuntu …
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