Latest News

I won’t discuss NBC issues - Mutebile

December 10, 2018 6:00 pm

By Moses Kyeyune.

The Governor Bank of Uganda Prof Emmanuel Mutebile has desisted from making submissions relating to the closure of National Bank of Commerce.

The bank which was largely owned by big shots from Kigezi sub region including former Prime Minister Amama Mbabazi, businessman Amos Nzeyi and others.

While appearing before the House Committee on Commissions, Statutory Authorities and State Entities to respond to the inquiry into the closure of the National Bank o commerce, Mutebile says he had a conflict if interest having been a stakeholder in the bank.

Mutebile also says that the process to close the bank was handled by his deputy, Louis Kasekende to have influence peddling.

The committee is probing the manner in which seven commercial banks were closed in what the auditor general highlighted as collusion and a possible conflict of interest.

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Museveni not a consultant on corruption - FDC

December 10, 2018 6:00 pm

By Damali Mukhaye. 

The opposition forum for democratic change have said that president Museveni is not an expert how to fight corruption I’m the country since he has failed to minimize the vice in the country.

This followed Museveni announcing to address the national this afternoon on how he plans to end corruption.

Addressing journalists at the party offices in Najjanakumbi, the party deputy secretary General Harold Kaija says that all the major corruption scandals including the Chogm scandal, katosi road and Temagalo among others involve government officials but president Museveni has not done anything.

He says that big people have gone unpunished and the corruption cases are very rampant in the country hence

Museveni has nothing to address the nation since he has failed.

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Boys 12-years fined Shs 200,000 for stealing goat

December 10, 2018 4:00 pm

By Abubaker Kirunda.

Two boys aged 12-years have been fined Shs 200 000 for stealing a goat.

The two have been found guilty of committing the offence  by the Bulubandi Central B village court  in Nakigo sub-county in Iganga presided over by the LC1 Chairman  Swaibu Mpoya

Mpya who first gave the two three strokes  of a cain each  said the money is to be paid their parents.

The culprits admitted to have stolen the goat belonging to Jafali Kasiba  a resident of the same village and asked for for forgiveness.

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Bank of Uganda security official granted bail

December 10, 2018 2:25 pm

By Ruth Anderah.

Bank of Uganda security official Beatrice Kyambadde has been granted a cash bail of 500,000 shillings and her sureties bonded 5 Million shillings not cash by City Hall Court grade one magistrate Patrick Talisuna .

The magistrate ruled that the offence of neglect of duty against Kyambadde are bailable, there is no threat that she will interfere with investigations and that she is innocent until proven guilty.

The Magistrate ordered kyambadde to report back to Court on January 14th 2019 to know the stage of investigations into the matter.

Kyambadde , a resident of Makerere Kavule Zone together with Charles Moro who are charged with the duty of manning security at the Central Bank, are accused of neglecting their duties to search people and bags that are coming in and getting out of the Bank hence leading to the disappearance of vital documents regarding the closure of several banks .

The duo were detained  by the parliamentary COSASE committee after failing to  explain how the said documents relating to the sale and liquidation of several banks including International Credit Bank, Cooperative banks Greenland Bank and Crane Bank went missing from Bank of Uganda custody.

Documents before court shows that Kyambadde committed the offence on  February 10th 2015 at Bank of Uganda.

However her-accused Charles Moro is to appear tomorrow December 11th for court also to consider his bail.

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MPs accuse Mutebile, Kasekende in Mbabazi bank closure

December 10, 2018 2:23 pm

By Moses Kyeyune.

Lawmakers on  Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises have pinned the Governor Bank of Uganda, Prof Emmanuel Mutebile and his deputy Louis Kasekende accusing them of conflict of interest in the liquidation of the National Bank of Commerce.

The two have this afternoon been appearing before the committee led by Bugweri County MP Abdu Katuntu to answer audit queries relating to illegal closure.

The MPs including Francis Mwijukye of Buhweju County and Moses Kasibante of Rubaga North have accused the governor for being a shareholder in the Bank he was supposed to regulate.

The MPs also argue that there would be no form of impartiality exercised by Kasende  in matter where Mutebile, his boss had clear interest.

The National Bank of Commerce was closed in 2014 and its stake transferred to Crane Bank before it followed suit two years later.

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Muntu’s mew formation awaits approval from EC.

December 10, 2018 1:14 pm

By Damali Mukhaye.

The launch of the new formation of the former forum for democratic change president Mugish Muntu awaits clearance from the electoral commission.

Announcing the new formation Gen Muntu told the country recently that it would be launched before 25th of December when he broke away for FDC to form his own.

Speaking to KFM, the new formation mobiliser Alice Alaso says that they handed in the signatures from across the country to the electoral commission, awaiting clearance before launching it.

She says that they are optimistic that the EC will approve it before 25th so that they can launch it as had planned.

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