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.

InFocus

See What Everyone is Watching

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.