• 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

Sacking of 400 former Crane Bank workers was in accordance with the law

David Kugonza by David Kugonza
November 29, 2018
in National News, News
0
Bank of Uganda Takes Over Crane Bank Management
77
VIEWS
Share on FacebookShare on Twitter

By Ruth Anderah.

The governor Bank of Uganda Tumusiime Mutebile has said that the collective termination over 400 former employees of Crane Bank was done in accordance with the law.

Related articles

Over 400 pilgrims set off from Lira  

Two police officers arrested for releasing suspected illegal loggers

In his letter to the ex employees,  the governor says Bank of Uganda is ready to defend itself should the employees proceed to Courts of law.

On 23 October the ex employees of crane bank  gave  Bank of Uganda 45 days within which to pay to them 48 billion shillings for loss of their employments

Through their lawyer Isaac Semakadde  the employees served the Governor of Bank of Uganda with a notice of intention to sue Bank of Uganda and DFCU  Bank in case he fails to pay their money in the stated period.

The  ex-workers led by Achan Catherine Kate  contend that until 20 October 2016 they were employees of Bank and Bank of Uganda subsequently took over the management of the Crane Bank on ground that it was under capitalized as described by law and therefore posed a systematic risk to the stability of the finance system.

The claim that on 27 January 2017 Bank of Uganda notified the general public that it had transferred and conveyed the asset and liabilities of Crane Bank to DFCU subject to a purchase  and  takeover  agreement that was fraud, unfair and allegedly concealed from the workers whose rights were affected directly by the takeover process.

The group says that according to the  recent Auditor General’s report Bank of Uganda forced  the closure of Crane Bank and other local banks  and induced DFCU terminate all its employees.

The former employees contend that the move to close Crane Bank was in bad faith  and in breach of Bank of Uganda’s  duties under the constitution.

The ex employees want Bank of Uganda to pay 120 million shillings to each of them as compensation for the unlawful termination of their services with Crane Bank.

Related Stories………..

Sacked crane bank demand for compensation from BOU

David Kugonza

David Kugonza

Related Posts

Over 400 pilgrims set off from Lira  

Over 400 pilgrims set off from Lira  

by Noelyn Nassuuna
May 17, 2022
0

  BY CHARITY AKULLO Nearly 400 foot pilgrims from Lira diocese have this morning set off for Namugongo ahead of this year’s Martyrs Day celebrations slated...

Two police officers arrested for releasing suspected illegal loggers

Two police officers arrested for releasing suspected illegal loggers

by Noelyn Nassuuna
May 17, 2022
0

By Teddy Dokotho   Police in Adjumani District has arrested two police officers over allegedly releasing suspects linked to illegal logging inside Zoka Central Forest Reserve...

Police ordered to withdraw MP Zaake’s security, vehicle

Police ordered to withdraw MP Zaake’s security, vehicle

by Noelyn Nassuuna
May 17, 2022
0

Parliament has instructed the Parliamentary Division Police to withdraw a car and other security details from Mityana Municipality MP Francis Zaake following his removal as Commissioner....

It’s Nurses’ Day: Gov’t urged to invest Nurses

Besigye to sue gov’t over house arrest

by Noelyn Nassuuna
May 17, 2022
0

  By Ritah Kemigisa The leader of the People’s Front for Transition political pressure group, Dr. Kiiza Besigye has revealed plans to challenge his continued house...

Gov’t asked to invest in roads to reduce accidents

Gov’t asked to invest in roads to reduce accidents

by Noelyn Nassuuna
May 17, 2022
0

By Prossy Kisakye The Opposition Forum for Democratic Change has asked the government to invest heavily in Ugandan roads to reduce the rampant accidents killing innocent...

Next Post
Deputy Speaker Jacob Oulanyah

Oulanya calls for increased funding to local governments

#LakeVictoriaBoatAccident Update: MV TEMPLA retrieved

#LakeVictoriaBoatAccident Update: MV TEMPLA retrieved

Entebbe Airport works on schedule at 45 percent says CAA

Entebbe Airport works on schedule at 45 percent says CAA

CATEGORIES

  • Business
  • Entertainment News
  • Health
  • HotSeat
  • Lifestyle
  • National News
  • News
  • PHOTO GALLERY
  • Sports
  • World News
Over 400 pilgrims set off from Lira  

Over 400 pilgrims set off from Lira  

May 17, 2022
Two police officers arrested for releasing suspected illegal loggers

Two police officers arrested for releasing suspected illegal loggers

May 17, 2022
Police ordered to withdraw MP Zaake’s security, vehicle

Police ordered to withdraw MP Zaake’s security, vehicle

May 17, 2022
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.