MP Abdu Katuntu

Members of Parliament sitting on the Committee Commissions, Statutory Authorities and State Enterprises have demanded liquidation and non-performing assets status reports of the defunct banks.

The five defunct banks include Cooperative bank, Green land bank, International credit bank, Global trust bank and National bank of commerce.

The committee chaired by Abdul Katuntu noted that although some reports of these defunct banks were given to the committee, those for Global trust bank and the National bank of commerce are missing among the submitted reports for the respective banks.

MPs also want Bank of Uganda to provide an imprest report at the closure of these Banks by Governor Bank of Uganda, Emmanuel Tumusiime Mutebile.

The post MPs demand status reports of defunct banks first appeared on Uganda Multimedia News & Information.

Although Bank of Uganda Governor Tumusiime Mutebile, President Museveni and the government in general have always been quick to close banks owned by the private seen as anti government including the Greenland bank, owned by late Sulaiman Kiggundu, they have refused to close the National Bank of Commerce formerly Kigezi Bank of Commerce owned by Nzei, Prime Minister Amama Mbabazi & Minister Ruhakana Rugunda.

Politicians from several political shades have challenged President Museveni/Mutebile and or the NRM government to close the National Bank of Commerce the way they closed Cooperative Bank, Greenland Bank and ICB bank among others because its main directors are issued over reported corruption.

The FDC youth coordinator, Sheikh Ibrahim Kasozi wonders how Nzei, Amama … are the same people involved in NSSF, oil, CHOGM, Temangalo land saga etc.

Nzei, Amama and Rukahana are being sued for conning Arab investors of billions of shillings. Other politicians our informer interviewed described Mbabazi, Nzei and Rukahana as shameless crooks. They wondered how the said officials conned the poor peasants from their own Kigizi land. Some warned the people still banking in Mbabazi’s bank stand to stand on guard.

The post Ugandans want Museveni to close National Bank of Commerce first appeared on Uganda Multimedia News & Information.

Byamugisha says, they now have the 1 billion Uganda shillings as initial capital and are moving to engaging the central Bank to have them licensed to start operations.

He also adds that the resurrection of the cooperative bank will help farmers acquire quick and soft loans to boost their activities.

Ultimate Media

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