Oops! It appears that you have disabled your Javascript. In order for you to see this page as it is meant to appear, we ask that you please re-enable your Javascript!
News

Ex-Crane Bank Employees Petition Kadaga over Bank of Uganda

Over 400 former Crane Bank employees have petitioned Speaker of Parliament Rebecca Kadaga over Bank of Uganda (BoU) and dfcu Bank.

On Tuesday, the former defunct Crane Bank staff met Kadaga to present a petition demanding an investigation into a Purchase of Assets and Assumption of Liabilities (P&A) agreement that was signed between BoU and dfcu Bank without the knowledge of ex-Crane bank staff.
This was among the issues that the Auditor General queried in his report that will be core as the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) meets officials from BoU on Thursday.
The former Crane Bank employees ar now demanding Shs48b in terminal benefits.
“Your petitioners further contend that BoU and dfcu Bank acted in bad faith, negligently, fraudulently and in breach of their respective duties under the Constitution and the law regarding the protection of workers’ interests during and after the impugned takeover of CBL,” the petition reads, in part.
COSASE will n Thursday probe BOU governor Emmanuel Mutebile, his deputy Louis Kasekende and BoU board following the Auditor General report on BoU on the sale of about 7 banks including Crane Bank.
The probe follows a 28th November 2017 letter from COSASE requesting the Auditor General to undertake a special audit on the closure of all commercial banks by the Central Bank.
The confidential report from the Auditor General, John Muwanga was made public in August 2018 highlighting queries into how the Central Bank handled the closure of the seven Banks, a probe that was sparked off by the controversial closure of Crane Bank Limited which was taken over by Bank of Uganda on 20th October 2016, citing under capitalization and was later taken over by DFCU Bank.

Most Popular

To Top