COSASE committee meets Shareholders of closed Banks Under Probe
The Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has this morning started interactions with the various shareholders of the seven closed.
The defunct commercial banks include; Teefe Bank (1993), International Credit Bank Ltd (1998), Greenland Bank (1999), The Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and Crane Bank Ltd (CBL).
Since November last year, COSASE headed by Abdu Katuntu of Bugweri County has been probing Bank of Uganda following the Special Audit Report on the closure of these commercial banks
Today, the committee is meeting shareholders of National Bank of Commerce, Teefe Bank, Nile River and SIL Investments Limited.
Former prime minister John Patrick Amama Mbabazi, Justice George Wilson Kanyeihamba, Business man Amos Nzeyi among others have appeared as stakeholders of National Bank of commerce.
Katuntu says the meeting with stakeholders will take them only one week, and they will not seek extension.