#cosase

Kasaija snubs COSASE again

By Our Reporter, NATIONAL The Committee on Commissions, Statutory Authorities and State Enterprises – COSASE has again summoned finance minister, Hon. Matia Kasaija, for snubbing the committee probe. It should be recalles that the committee is probing Kasaija over Sh10.6 billion supplementary payment to six landowners in Bunyoro and Buganda regions. Among the six land owners is the Lusanja land…

DTB Bank loses clients over tycoon Ham’s Shs120b scandal

By Leonard Kamugisha Akida, There is pandemonium at Diamond Trust Bank (DTB) Uganda as credible sources reveal an unexpected loss of clients who have started withdrawing their savings citing loss of trust and integrity in the bank’s senior executives, after they were accused of illegally siphoning over Shs120Bnn from businessman Hamis Kiggundu aka Ham’s accounts. Senior executives of both DTB…

Katuntu defends COSASE commercial banks probe report Among the alleged glaring omissions from the report is a failure to explicitly name individuals implicated in an intricate web of criminality, flagrant flouting of the law and conflict of interest

In the run-up to last week’s release of the committee on commission’s statutory authorities and state enterprise’s (COSASE) report on the closure of seven banks by Bank of Uganda (BOU), the excitement by lawmakers and Ugandans that had followed the proceedings on live TV coverage was palpable.

However, there seems to have been an anticlimax, with the report being the butt of jokes by a…

"Whatever we did was in accordance with the law" Kasekende speaks out on COSASE report In the report, the lawmakers noted that in several cases, the central bank did not follow the Financial Institutions Act (FIA) and BOU regulations

The central bank has roundly rejected the findings of the parliamentary committee on commissions, statutory authorities and state enterprises (COSASE) that there were irregularities in the way it handled the closure of seven commercial banks.

Last week, the COSASE chairperson, Abdu Katuntu, presented the report on the findings of a three-month probe, indicting Bank of Uganda (BOU) for flaws in…

BOU governor’s powers should be trimmed COSASE has said the Constitution should be reviewed to stop the central bank governor from holding the position of chairperson of its board of directors.

The parliamentary committee on commissions, statutory authorities and state enterprises (COSASE) has said the Constitution should be reviewed to stop the central bank governor from holding the position of chairperson of its board of directors.

Currently, the governor and deputy governor are the chairperson and vice-chairperson of the Bank of Uganda (BOU) board of directors.

“It is the…

Munyagwa Summoned to court over Fraud. The Anti-Corruption Court has, for the second time issued criminal summons against Kawempe South MP Mubarak Munyagwa, who is accused of soliciting and receiving sh78m from a city businessman

The Anti-Corruption Court has, for the second time issued criminal summons against Kawempe South MP Mubarak Munyagwa, who is accused of soliciting and receiving sh78m from a city businessman to get his (businessman’s) son a Kampala Capital City Authority job. Chief Magistrate Pamella Lamunu Ocaya directed Munyagwa to appear in court on March 6, to plead to three counts of corruption, contrary to…

Cooperative Bank owners demand accountability of assets from BOU. “We pray the committee causes BOU to tell us which co-operative bank was closed, is it the one of 1964 under the Co-operative Society’s Act or the Co-operative Bank under the Company’s

Almost 20 years down the road since Co-operative Bank was closed, shareholders and directors say they have since not had access to the evaluation report on the assets from the central bank. Cooperative Bank which opened in 1964 was closed over three decades later on May 19, 1999 by the Central Bank over continued poor performance and non-compliance with regulatory capital adequacy requirements.

dfcu Bank returns to Parliament this afternoon for further engagement with the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE).

Yesterday the Board Chairman Mr. Jimmy Mugerwa led a combined Board and Management team to parliament following an invitation from the Clerk of the Committee to have dfcu testify before committee Of the Auditor General’s Special Audit…