October 20, 2020
October 20, 2020

The closure of Crane bank limited becomes a curse to Dfcu Bank and BoU.


By Our Reporter
Besides the fresh  closure of Crane  bank limited, Bank Uganda closed seven commercial banks between 1993 to 2016.
The controversial sale of Crane bank limited at only Shs200 billion to Dfcu bank was the highlight of the processes where BoU closed and sold off assets of the seven banks.
Crane bank sale led to job losses, resignations, transfers and, reputation damage, to mention but just a few, in regards to BoU, Dfcu bank and law firms such as MMKAS Advocates,   AF Mpanga, Advocates and Sebalu & Lule Advocates.
However the closure of Crane bank affected certain individuals in BoU, Dfcu bank and the law firms in many ways that have changed public perception.
In October 20th of 2016, will always remain the day to remember for Tumusiime-Mutebile as long as he lives.
_The Genesis for this curse_
Mutebire assures the public that all the former employee of Crane bank N one would lose his or her job as he transferred it to Dfcu bank.
Unfortunately, it’s  never came to pass as a Dfcu bank started laying off the employees in a few months after taking over its former rival.
The sale of Crane bank to Dfcu bank exposed Tumusiime-Mutebile as a bad manager, especially when he and his team claimed to have spent Shs478 billions of taxpayers’ money on Crane bank in receivership liquidity support yet he could transfer its assets at Only Shs200 billion, sadly BoU failed to account for all the money injected in Crane bank while in receivership yet at the same time wanted to recover it from Crane bank shareholders of which COSASE saw as fraud.
Mutebire and deputy Kasekende are accused of failing to supervise their juniors during the processes to close Crane bank and other banks. The issue became prominent when they could present all required documents to COSASE during the BoU probe over closed banks.
Sources reviewed that, unlikely Kasekende will even remain in that capacity as Deputy Governor following the recent report that revealed that he and Tumusiime-Mutebile were leading cliques of staff in the performance of official duties. A new face is likely to replace outside of BoU Tumusiime-Mutebile
Facebook Comments


Be the first to comment

Leave a Reply

Your email address will not be published.


Corona Virus Banner

The Ministry of Heath has revealed that all the 639 samples tested at the Uganda Virus Research institute