Tag Archives: COSASE

Under the spotlight: the law and big money Kampala, Uganda | HAGGAI MATSIKO | After ending its public hearings into Bank of Uganda’s closure of seven commercial banks, attention is shifting to the recommendations the Parliamentary Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE), is set to make. It …

  Kampala, Uganda | THE INDEPENDENT | The authenticity of agreements transferring assets of the 1964 Cooperative Bank to that incorporated in 1997 under the Company’s Act has been questioned. For the past few weeks, the commissions committee of parliament has been probing how the Cooperative Bank in 1997 was …

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac Walukagga. …

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac …

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has kicked out Bank of Uganda officials led by the Governor, Emmanuel Tumusiime Mutebile for appearing without supporting documents to their presentation. The officials had appeared on Monday to respond to accusations by the shareholders and …

Kampala, Uganda | THE INDEPENDENT | The Board of Directors of Bank of Uganda (BoU) has blamed the difficulties faced by the Central Bank on gaps in the Constitution. Article 161 (2) of the Constitution vests the authority of the Central Bank on the Board. According to the law, the Chairperson …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda disposed of the Cooperative Bank, which started operations in 1997, the Committee on Statutory Authorities and State Enterprises-COSASE, heard on Thursday. Hannington Wasswa, the Director Commercial Banking in Bank of Uganda disclosed this while responding to a query by COSASE Chairperson, …

Kampala, Uganda | THE INDEPENDENT | Buganda Road court has summoned the Kawempe South Member of Parliament, Mubarak Munyagwa on corruption charges. The January 15th, 2019 criminal summon was issued by the Buganda Road Court Grade One Magistrate, M. M. Nabende. “You are hereby commanded by the Uganda Government to appear …

Kampala, Uganda | THE INDEPENDENT | The probe into the closure of Cooperative Bank took a twist after the committee investigating the irregular sale of commercial banks resolved to summon the Auditor General John Muwanga to clarify on allegations that there were two cooperative banks. This was after shareholders of …

Kampala, Uganda | THE INDEPENDENT | A section of former shareholders of Greenland Bank have demanded that the Central Bank accounts for the entire period the institution has been under liquidation. The bank was in 1999 put under liquidation by the Central Bank which could later on 5th December 1998 take …