Bank of Uganda told to account for Shs478bn injected into Crane Bank

The Parliamentary Committee investigating the closure of the defunct seven commercial banks have tasked the Bank of Uganda to produce the accountability of the Shs478billion that was injected into Crane Bank Limited for liquidity.

The Committee that is chaired by Bugweri County Legislator Abdu Katuntu has also learnt of the duplication of some 4,458 account loans and advances that were transferred from Bank of Uganda to dfcu Bank during the sale of Crane Bank.

The Parliamentary committee on Commissions, State Authorities and State Enterprises has been compelled to adjourn the interface with Bank of Uganda officials in order to give time to the Auditor General internalize the some of the confidential documents Bank of Uganda submitted to the committee.

The Committee is however concerned that exclusion and inclusion of the assets that were transferred from Bank of Uganda to dfcu Bank include a lot of duplication of both account loans and advances.

Before adjourning the meeting to Wednesday this week, Katuntu also informed the Committee that is in possession of documents from some people questioning the continued communication between some officials of Bank of Uganda and former shareholders of Co-operative Bank.

The Committee has also resolved to summon all consultants that Bank of Uganda engaged in the closure and sale of Crane Bank Limited in 2016.