Former Crane Bank Boss Wants Bank of Uganda to Pay Up

The former owner of the closed Crane Bank, Sudhir Ruparelia says the Bank of Uganda is illegally holding over U.S.$23 million amassed by shareholders to help Crane Bank stay afloat. A parliamentary committee has been investigating the Bank of Uganda for alleged irregularities in the closure of seven commercial banks including Crane Bank, some of which were shut down 20 years ago.

Police officers enter Crane Bank main branch in Kampala to beef-up security shortly after Governor Emmanuel Mutebile announced that BoU had taken over management of the bank.

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