Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank
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Kampala
Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

Customer funds are safe and our financial standing is sound, Bank of Africa clarifies

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Bank of Africa has responded to Eagle Online story dated October 2, 2023 about the customer deposits at Bank of Africa at risk as billions feared stolen by the staff urging that the Customer funds are safe and the institution’s financial standing is sound.

“We wish to categorically state that Bank of Africa maintains the highest standards of financial integrity and security. All customer deposits are safe and our financial standing is sound as reflected in our recently published statements that can be found on baouganda.com.” Bank of Africa clarified.

The Bank added that for further information about the financial soundness of bank of Africa Group whose total asset is a subsidiary it says are sold.

Awhistleblower who says operates on Nasser Road in Kampala has written to the Bank of Uganda (BoU) claiming customer deposits at Bank of Africa could be at risk of being stolen by staff. A detailed submission which he copied to several newsrooms, indicating that all wasn’t well at Bank of Africa Ugnada

Writing on September 30, 2023, to the BoU Governor, Moses Mukasa, the whistleblower, said he was cleaning the office, he landed on garnish orders from Bank of Africa, which to him was strange.

“I work from Nasser road here in Kampala. But as I was sweeping our office, I landed on the attached draft document. And from this document, it seems that there is a problem at the Bank of Africa in Uganda. I have personally seen several people on this Nasser Road premises processing fake court garnish orders to be used in Bank of Africa Uganda,” he said.

He added “The MD of Bank of Africa- Uganda, mistreats, and underpays staff this is why there is a big and abnormal exodus. We are really paid so little by this man, we need help from Allah. As if that is not enough, his poor people management skills are driving the unavoidable collapse of the bank. It’s just a matter of time if he doesn’t step aside. We need new management,” he said.

However, in its reply to the story, without providing any specific indicators or directly answering the allegations brought forward said all is well inside its operations.

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