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You have two months to table report on liquidated Crane bank- Youth Crusaders

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Kampala: The National Coordinator for Youth Crusaders Fatinah Nakazibwe has called upon Chief Executive Officer (CEO) of Financial Intelligence Authority Sydney Asubo to table a detailed report about Crane Bank and other commercial banks that have been liquidated by Bank of Uganda.

Speaking about crane bank that was recently taken over by DFCU bank, Nakazibwe said, that notorious bank was liquidated in a dubious ways by selfish people in Bank of Uganda (BOU) disguising under the Financial Institutions Act 2013.

“We recently questioned the failure of FIA to produce draft interim report, however, its boss Mr. Sydney Asubo, said that he is waiting instructions from above, forgetting the roles of the organization which include but not limited to curbing money laundering” she said at Makerere Guest House.

They revealed that there is a vivid evidence of the letter from President Museveni to security agencies to investigate BOU but all this has been disregarded by relevant agencies.

Nakazibwe said untill the Speaker of Parliament Rebecca Kadaga broke the deadlock to enable the Auditor General to audit BOU after they had blocked the move citing the pre-Judice rule.

“We were recently surprised when some on-line journalists were summoned to CIID for covering the ineptness of some BoU officials as intimidating them during their course of duty,” she said

Adding “We suspect that it is a syndicate to fail our economy, the prime suspect, Justine Bagyenda who was Director of Supervision at BoU was relieved of her duties and then Inspector General of Government (IGG) office headed by Justice Irene Mulyagonja who is believed to be a friend to the suspect tried to reinstate her using dubious means and we petitioned the authorities and their plan was halted a bit,” said Herman Kaweesa one of the group members.

He said Mrs. Bagyenda has been re-instated back to BOU as an advisor to the governor, which is unfair saying she is likely to jeopardize investigations since she is the principle figure in this mess.

“As youths, it beats our understanding when government people trump upon our prevailing conducive investment climate through their impunity, We cannot just seat back when an investor like Ruperlia Group of Companies which pays about Shs3 billion every month in salaries of more than a thousand workers is put on grip by selfish public servants,” he said.

“Of late, we have seen a big turnover of our investors to our neighboring countries such Kenya. They have transferred some of their operations and machinery partly due to self-centered people from Institutions of government, BAT, Britania and BATA are among the companies that have shifted due to our weaknesses,” he added.

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