Closed banks: Governeor, BoU officials sweat plasma in Parliament committee

Closed banks: Governeor, BoU officials sweat plasma in Parliament committee

Bank of Uganda officials have unconvincingly labored to explain, why the sale of loan portfolios of three closed banks were sold at a huge discount. The banks in question include Greenland Bank, Cooperative Bank and International Credit Bank. Central Bank officials led by the Governor Emmanuel Tumusiime Mutebile this morning returned before Parliament’s Committee on […]

Two Wanted Men

Two Wanted Men

This website understands that police continue to call for assistance from the general public to locate two men who have been on the run for several months. Any person, who may know the whereabouts of Kibirige Ronald Newman Namanyabyoona Godwin is asked to contact the police emergency at telephone number ‘999’ or the nearest police […]

Lira boy’s killing: Ugandans lose confidence in the criminal justice system

Lira boy’s killing:  Ugandans lose confidence in the criminal justice system

The recent clashes in Lira district are a manifestation that more Ugandans have lost confidence in the criminal justice system, according to members of the parliamentary forum for children. The statement follows numerous clashes between locals and members of the Asian community. The fights were triggered by the death of an 11-year-old boy Dickens Okello, […]

Dr Sudhir Ruparelia receives East African Business Leader Award of 2018

Dr Sudhir Ruparelia receives East African Business Leader Award of 2018

City business tycoon Sudhir Ruparelia has revealed that when he started out, his dream was to just have a good home and private education for his children. These were words of encouragement that you can build a big business brick by brick to guests who witnessed as he received the East African Business Leader Award […]

Project to fight drought in Karamoja to cost Shs 74 billion

Project to fight drought in Karamoja to cost Shs 74 billion

The Permanent Secretary Ministry of Agriculture Puis Wakabi has said Government through the Ministry of Agriculture is struggling to end drought in the Karamoja, Teso and Sebei regions, Between 2016 and June 2018, the Karamoja region and the Turkana in Kenya experienced drought that led to loss of lives. Later, leaders in the IGAD region […]

Lukwago lashes out at Kamya, KCCA over evicting street vendors

Lukwago lashes out at Kamya, KCCA over evicting street vendors

Lord Mayor Erias Lukwago has lashed out at city authorities including Kampala Minister Betty Kamya over the eviction of street vendors. According to Lukwago, street vending is a lawful practice but should be regulated, saying they cannot evict everyone enormously. Lukwago says that evicting vendors cannot be the solution to Kampala’s escalating problems including reducing […]

Bagyenda leaves Uganda amidst COSASE fire

Bagyenda leaves Uganda amidst COSASE fire

As the MPs on Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) were coming to the terms that the former Bank of Uganda (BoU) executive director for supervision, Justine Bagyenda, is out of the country, it also emerged that the BoU deputy governor Dr Louis Kasekende, flew of the country a day before […]

How Central Bank blow Shs478billion in takeover of Crane Bank

How Central Bank blow Shs478billion in  takeover of Crane Bank

The Auditor General’s report on the closure and take-over of banks has indicated that the Central Bank could have fraudulently spent over Shs478billion in the questionable takeover of Crane Bank before selling it to DFCU Bank at Shs200billion a few months later. The MPs demanded for inventory reports, loan schedules, customer deposit schedules, statement of […]

MPs throw out Mutebile and BoU staff over missing documents

MPs throw out Mutebile and BoU staff over missing documents

The Parliamentary  Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) yesterday threw out Bank of Uganda Governor, Emmanuel Tumusiime Mutebile and his deputy, Louis Kasekende after they failed to produce the required documentation on how Crane Bank and six other banks were closed. The MPs demanded for inventory reports, loan schedules, customer deposit schedules, […]

Bagyenda pinned on misuse of office by BOU security boss

Bagyenda pinned on misuse of office by BOU security boss

After she agreed to leave her job at Bank of Uganda, Justine Bagyenda, the former Executive Director in charge of Commercial Banks Supervision, sneaked out a number of key documents relating to the operations of the Central Bank, members of Parliament’s committee on Commissions Statutory Authorities and State Enterprises (COSASE) have been told. Testifying before […]