Kampala, Uganda | THE INDEPENDENT | The Director Forensics at Auditor General’s Office James Bantu has commissioned an audit in regards to the Bank of Uganda extra cargo that was loaded on a chartered plane in April this year. It is alleged that around March 1st and April 27th, 2019 …
Read More »Kadaga clears COSASE to probe BoU
Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament, Rebecca Kadaga has directed the Committee on Commissions, Statutory Authorities and State Enterprises – COSASE to conduct proceedings on issues that were not concluded as pertains matters on the closure of seven commercial banks by Bank of Uganda. The seven …
Read More »Forex bureau sues BoU for revoking license
Kampala, Uganda | THE INDEPENDENT | Jaffery Forex Bureau Limited has sued Bank of Uganda seeking compensation of Shillings 9.5 billion for revoking its license illegally. The Forex Bureau has filed its suit in the Civil Division of High Court through Kinobe Mutyaba Advocates. They are challenging the Central Bank …
Read More »Bank of Uganda considers CRB listing for loans on mobile money platforms
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda is considering capturing details of loan products obtained through the different mobile platforms into their Credit Reference Bureau-CRB. The different Telecoms in Uganda have steadily been reinventing the services they offer to their clients; to the extent that many of them …
Read More »Charged BoU officials leave office
Kampala, Uganda | THE INDEPENDENT | Three Bank of Uganda employees charged in the anti-corruption court over a procurement scandal, have taken leave from office in line with the Public service rules that require a public servant to step aside, in the face of an investigation. The three officials are …
Read More »BoU complained to money printer for breach of contract
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has expressed disappointment with the company contracted to print Ugandan currency over failure to transport cargo on agreed terms. The letters, which reveal the actual agreements between the Central Bank and Oberthur Fiduciare, the company that printed money, indicate that the …
Read More »Mutebile tight-lipped on BOU procurement scam
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has refused to reveal the amount of money the institution was carrying into the country when extra pellets were discovered on a chartered plane. He also said he was not aware of the police investigations into claims of …
Read More »Central Bank officials arrested over ‘procurement’ scandal
Kampala, Uganda | THE INDEPENDENT | Several officials from the Bank of Uganda and the Civil Aviation Authority are being questioned following an anomaly with a consignment belonging to the central bank. According to a Statement issued by the Central Bank Governor Emmanuel Tumusiime Mutebile the investigation is in relation …
Read More »Governor Mutebile advises public on new Kenyan bank notes
Kampala, Uganda | Julius Businge | The Bank of Uganda Governor Emmanuel Tumusiime Mutebile has advised the general public to take note of the changes made by the Central Bank of Kenya on its currencies. In a media release circulated on June 12, Mutebile urged the public to be vigilant when transacting …
Read More »Kenya currency suspension disrupts businesses, money changers
Kampala, Uganda | THE INDEPENDENT | Businesses and money changers have suffered major disruptions following the suspension of the Kenyan currency conversion in Uganda. Consequently, many have seen the value of their money fall but also had to contact their friends near the border to help them do conversions in …
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