• Home
  • About
  • Join Us
  • Contact
93.3 KFM
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters
  • PHOTO GALLERY
Subscribe
No Result
View All Result
93.3 KFM
No Result
View All Result
Home News National News

Greenland bank cries foul, accuses BoU of fraudulent dealings

David Kugonza by David Kugonza
February 5, 2019
in National News, News
0
BoU withdrawals documents from COSASE
25
VIEWS
Share on WhatsAppShare on FacebookShare on Twitter

By Moses Kyeyune.

Directors of Greenland Investment have accused the Bank of Uganda of fraudulent dealings in the closure, liquidation and sale of their bank in 1999.

Related articles

Ex-Central African Republic leader handed life sentence for conspiracy, rebellion

Govt given two weeks to release funds for fixing city roads

Ahmed Nsubuga, one of the surviving shareholders of the Bank has asked the committee on Commissions, Statutory Authorities and State Enterprises to compel the Bank of Uganda clearly account to Greenland Bank Investors, the status of their institution since it was  closed.

Nsubuga contends that therefore was no justification for take over since the bank was adequately capitalised to a tune of 147 billion out of the required minimum of 10 billion shillings.

He has also asked the committee to query the whereabouts of other assets that were lost alongside the closure, including investments in Rwanda, Kenya and Zanzibar among others.

According to a statement presented to the committee, Greenland Bank has indicated that there has not been room for redress in the last 20 years, and that shareholders have placed all their hope in the probe.

Nsubuga has revealed  that despite written commitments from the central bank to have all shareholder appraised on the liquidation, nothing has taken place, a suspicious move by the Bank of Uganda to escape accountability since most of the owners of Greenland Bank are perishing.

Related Stories……….

Nzeyi speaks tough on Bagyenda over NBC Closure

 

David Kugonza

David Kugonza

Related Posts

Ex-Central African Republic leader handed life sentence for conspiracy, rebellion

Ex-Central African Republic leader handed life sentence for conspiracy, rebellion

by admin
September 22, 2023
0

By AFP Exiled former Central African Republic president Francois Bozize, who became a rebel leader, has been sentenced in absentia to forced labour for life for...

Govt given two weeks to release funds for fixing city roads

Govt given two weeks to release funds for fixing city roads

by Prossy Kisakye
September 22, 2023
0

A section of Members of Parliament from Kampala Metropolitan has issued an ultimatum of two weeks to the government to release funds for both the maintenance...

Opposition protest ‘wasteful expenditure’ on foreign trips

by Prossy Kisakye
September 22, 2023
0

Members of the Opposition in Parliament have protested what they termed as 'wasteful expenditure' by the government on the ongoing UN summit. It is alleged that...

We inherited the poor roads – KCCA

Lukwago blames KCCA for city floods, bad roads

by Prossy Kisakye
September 22, 2023
0

Kampala City Lord Mayor, Erias Lukwago has blamed Kampala Capital City Authority (KCCA) for continuing to borrow funds for rehabilitation of city roads with no clear...

Lukwago blames KCCA for city floods, bad roads

NMG journalist arrested over Lubowa hospital story

by admin
September 22, 2023
0

By Monitor Reporter Detectives at Lubowa Police Station along Entebbe Road have detained Nation Media Group (NMG)- Uganda journalist who was following up on a story about...

Next Post
Kadaga on tour with Miss World Abenakyo

Kadaga on tour with Miss World Abenakyo

M7 Launches mosquito paint

M7 Launches mosquito paint

MUBS council demand Prof Baryamureeba steps down

Baryamureba advices Nawangwe to uplift suspension of association leaders

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News
Son shines as Spurs rescue derby draw at Arsenal

Son shines as Spurs rescue derby draw at Arsenal

September 24, 2023
Ex-Central African Republic leader handed life sentence for conspiracy, rebellion

Ex-Central African Republic leader handed life sentence for conspiracy, rebellion

September 22, 2023
Govt given two weeks to release funds for fixing city roads

Govt given two weeks to release funds for fixing city roads

September 22, 2023
93.3 KFM

Kampala's #NumberOne radio station for better information and the best music ! KFM is a subsidiary of Nation Media Group;
@NationMediaGrp

© 2022

No Result
View All Result
  • Home
  • HotSeat
  • News
    • Business
    • Health
    • Sports
    • Lifestyle
  • Events
  • Contact Us
  • Promotions
  • Presenters

© 2022