COSASE directs BoU officials to account Shs 478bn crane bank bailout cash

By Moses Kyeyune.

Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises has tasked officials from the Central Bank to account for 478 billion Shillings liquidity support that Crane bank had invested before it was placed under receivership.

The directive has been issued by the Committee chairperson, also Bugweri County MP Abdu Katuntu during an interface with BoU officials this afternoon.

Explanations are required by Wednesday and according to Katuntu, the committee wants to ascertain whether the money fulfilled its purpose.

On the spot is former Crane Bank Statutory Manager KatimboMugwanya who last week told the committee that he did not hand over any progress report on his duties in Crane Bank.

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