Kampala, Uganda | THE INDEPENDENT | Ssebalu and Lule Advocates, a city law firm has asked the High Court to dismiss the application filled by Businessman Sudhir Ruparelia accusing the firm of conflict of interest. In 2017, Sudhir’s Company Crane Management Services sued DfCU Bank over rent arrears amounting to …
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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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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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Kampala, Uganda | Julius Businge | Dfcu bank customers will, for a limited time access personal unsecured loans of up to Shs150 million at a competitive interest rate of 17.5% per annum, it said in a notice dated Feb.19. According to dfcu bank’s Head for Personal Banking, Miranda Bageine Musoke, …
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Kampala, Uganda | THE INDEPENDENT | The former Crane Bank Chairman of Board of Directors, Joseph Biribonwa, has accused the Central Bank for frustrating investors. Biribonwa on Wednesday appeared with the former Crane Bank owner Sudhir Ruparelia before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that …
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Kampala, Uganda | THE INDEPENDENT | The agreement for the sale of Crane bank to DFCU was shoddy and fraudulent, Former Crane Bank owner, Sudhir Ruparelia has told the ongoing Bank of Uganda probe. According to Sudhir, the Purchase of Assets and Liabilities (P&A) agreement signed between BoU and DFCU …
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Kampala, Uganda | THE INDEPENDENT | The former Central Bank Executive Director in charge of Supervision Justine Bagyenda has been accused of usurping the powers of the Legal Department, in the Crane Bank Limited saga. The accusation came after reports that Bagyenda engaged external lawyers from MMAKs Advocates to offer …
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Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed the Auditor General to carry out an audit into the sh478 billion injected into Crane Bank Limited by the Central Bank. The money was injected into the defunct Bank by the Central Bank …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda officials have failed to justify the absence of an evaluation report of the assets and liabilities of Crane Bank Limited before its sale to DFCU. The irregularity was queried by the Auditor General in his 2017 forensic audit report. According to the …
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Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions Statutory Authorities and State Enterprises (COSASE) has summoned auditors of Price Water Coopers (PWC) to explain how they came up with 239 billion shillings under capitalization of Crane Bank Limited. Price Water Coopers auditors were hired by Bank of Uganda to …
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The Independent Uganda: You get the Truth we Pay the Price
