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Tag Archives: Crane Bank

BoU legal department not consulted on Crane Bank sale

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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MPs demand audit into sh478bn injected into Crane Bank

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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BoU fails to explain Crane bank evaluation report

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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MPs summon price water coopers over Crane bank closure

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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BoU ready for defense in former Crane Bank employees suit

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda says that it is ready to defend the termination of the contracts of former employees of Crane Bank. Last month, 400 former employees of Crane Bank through their lawyer Isaac Ssemakadde wrote a statutory notice to Bank of Uganda demanding 120 …

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IN THE INDEPENDENT: Why BoU sells banks cheaply

Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s THE Independent. COVER STORY Why BoU sells banks cheaply: Auditor General spills secrets of Coop Bank, Greenland Bank.   NEWS ANALYSIS: Refinery deal excites: Agreement seen as a key step towards the construction of $4bn facility THE LAST …

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THE INDEPENDENT: DFCU profits expose BOU ‘deals’

Kampala, Uganda | THE INDEPENDENT | The top stories in this week’s THE Independent. COVER STORY DFCU profits expose BoU: Taxpayer stands to lose Shs300bn THE LAST WORD Uganda’s new villain: Why the country and the President is fighting the wrong enemy on electricity tariff BANKING Uganda’s banks brace for …

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