• 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

MPs draft motion to probe BoU over bank closures

David Kugonza by David Kugonza
March 22, 2018
in National News, News
0
MPs draft motion to probe BoU over bank closures
14
VIEWS
Share on FacebookShare on Twitter

BY SOLOMON ARINAITWE.

Parliament is set to consider a motion by a group of MPs seeking to set up a select committee to investigate the operations of Bank of Uganda with a particular interest in the circumstances that led to the closure of National Bank of Commerce and Crane Bank.

Related articles

CSOs drag government to court over vaccine access

IPOD executive secretary calls for renewing of MOU

Crane Bank was closed by BoU in October 2016 on grounds that it was “significantly an under capitalised institution” and posed a “systemic risk to the stability of the financial system” in the country while NBC was closed in 2012 after the central bank concluded that the “continuation of NBC’s activities were detrimental to the interests of its depositors.”

Questions over the closures of banks started emerging after Bank of Uganda Governor Emmanuel Tumusiime-Mutebile was caught up in an internal struggle with the director of commercial banks supervision Justine Bagyenda.

The governor then sacked Bagyenda in a controversial October 7 reshuffle.

Budadiri West MP Nandala Mafabi, the mover of the motion, says the proposed committee will investigate reports of collusion between Bagyenda and commercial banks when she served as director supervision, money laundering at the central bank in contravention of The Anti-Money Laundering Act and abuse of The Whistle Blowers Act.

Mafabi also wants the Select Committee to separately investigate Ms Bagyenda over reports of tax evasion.

Parliament resumes next week Tuesday and the motion to set up a select committee to investigate BoU has been on the Order Paper.

David Kugonza

David Kugonza

Related Posts

CSOs drag government to court over vaccine access

CSOs drag government to court over vaccine access

by Noelyn Nassuuna
March 5, 2021
0

By Moses Ndhaye Civil society organizations have dragged the government to court challenging the decision to make a national identity card as a requirement for its...

IPOD executive secretary calls for renewing of MOU

IPOD executive secretary calls for renewing of MOU

by Noelyn Nassuuna
March 5, 2021
0

By Benjamin Jumbe The executive secretary of the Inter Party Organisation for Dialogue Frank Rusa has underscored the need to expedite the process of renewing the...

Kasango: Family talks hit deadlock over burial site

Kasango: Family talks hit deadlock over burial site

by Noelyn Nassuuna
March 5, 2021
0

For two days running, late lawyer Robert Kasango’s wife and children and his mother’s family have failed to agree on his final resting place. The standoff...

283 witnesses lined up in Bobi Wine’s petition

Supreme court allows Bobi Wine’s petition withdrawal

by Noelyn Nassuuna
March 5, 2021
0

By Ruth Anderah A panel of nine Justices of the Supreme Court led by Chief Justice Alfonse Owiny-Dollo have allowed former presidential candidate Robert Kyagulanyi Ssentamu...

Four Bizonto comedians re-arrested

Four Bizonto comedians re-arrested

by Noelyn Nassuuna
March 5, 2021
0

By Job Bwire Four radio presenters and comedians popularly known for acting parody skits under their stage name Bizonto have been re-arrested. Mercel Mbabali, Simon Peter...

Next Post
Drug Authority will not license any new drug out lets in Kampala

Parliament halts ban on new pharmacies

Port bell railway line to be opened

Port bell railway line to be opened

Museveni fires Immigration director and other top official

Museveni fires Immigration director and other top official

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News

RECOMMENDED

Motorist fined Shs 8 million for damaging street light
National News

Motorist fined Shs 8 million for damaging street light

April 30, 2018
Suspected habitual thief injected with paraffin
News

Suspected habitual thief injected with paraffin

August 31, 2015
93.3 KFM

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

© 2021.

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

© 2021.