Tag Archives: COSASE

  But commercial lawyers argue that the central bank is simply cleaning its face and that the law is not on its side Kampala, Uganda | JULIUS BUSINGE | The legal battle between Bank of Uganda and Sudhir Ruparellia over the defunct Crane Bank Limited is intensifying. They are headed …

Experts say there are lessons to learn from this case and that the central bank should not be hanged for losing it Kampala, Uganda |  JULIUS BUSINGE | Uganda’s central bank is facing huge costs after losing court cases in the Commercial and Court of Appeal over Sudhir Ruparelia, Meera …

Kampala, Uganda |  THE INDEPENDENT | The Acting Executive Director Kampala Capital City Authority-KCCA Eng. Andrew Kitaka has denied accusations of flouting the Pensions Act and causing financial loss to government. He was appearing before the Committee on Commissions, Statutory Authorities and State Enterprises-COSASE alongside other Authority officials to respond to …

Kampala, Uganda  | THE INDEPENDENT |  The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has threatened to cause the arrest of Uganda’s Deputy Ambassador to Italy, Dr. Kassam Mumtaz for snubbing the committee summons. Mumtaz is needed to testify in the ongoing investigations into the acquisition of Departed Asians’ Property …

Kampala, Uganda | THE INDEPENDENT | The High Court Civil Division has rejected findings and recommendations of the Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that people who benefited from the SH 6 billion presidential oil handshake refund the money. The committee, which was led by Bugweri legislator …

Kampala, Uganda | THE INDEPENDENT | The Commissioner-General of Uganda Revenue Authority (URA) Doris Akol has downplayed accusations that the tax body caused losses to businesses by retaining taxes paid for goods that are destroyed after failing to meet standards. Akol was summoned by Parliament’s Committee on Commissions, Statutory Authorities …

Plan to have BOU pay heavily Kampala, Uganda | JULIUS BUSINGE AND ISAAC KHISA | Real estate tycoon Sudhir Ruparelia has won a major case in the High Court in Kampala that could see the Bank of Uganda pay him billions of shillings in costs and compensation for lost business …

Kampala, Uganda | THE INDEPENDENT | Michael Maranga Mawanda the Igara County East MP has been granted leave of Parliament to introduce the Bank of Uganda Amendment Bill 2019. The bill seeks to separate the fusion between the Bank of Uganda (BoU) management from the board of directors. It seeks …

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, has summoned the Central Bank Governor, Prof. Emmanuel  Tumusiime Mutebile. Mutebile is supposed to respond to petitions related to closure of commercial banks next week on Thursday. The Constitution gives Parliamentary committees’ quasi powers of …

Kampala, Uganda | THE INDEPENDENT | Parliament has asked the Criminal Investigations Department (CID) to investigate the whereabouts of the seal of the Departed Asians Property Custodian Board. This follows a dispute between the Finance Minister Matia Kasaija, and former Custodian Board Secretary Bernard Tumwesigire, who presented a custodian board …