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Government Makes Second Withdraw from Oil Fund Before Production Commences

Government has withdrawn an extra Shs. 200billion (approx. $54 million) from the petroleum fund, Finance Minister Matia Kasaija announced in a statement on the Ministry website. The withdrawn money, Kasaija said, is meant to help finance Uganda’s 2018-2019 spending plan which includes development of infrastructure including power plants and roads. This becomes

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DFCU Under Fire Over Sharing Client’s Confidential Information Publicly

DFCU Bank could be dragged to court to answer for charges of sharing former Crane Bank clients’ confidential information publicly, The Tower Post reports. The complaint was lodged by Rajiv Ruparelia (son to Sudhir Ruparelia), a former client of Crane Bank – now DFCU Bank whose phone number was publicly shared

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DFCU Boss Kisaame in Bribery Scandal, Seeks COSASE MPs’ Protection

DFCU Bank Managing Director Juma Kisaame has been accused of bribing a section of legislators on Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to drop summons against the bank’s top officials. DFCU is among the entities lined up for investigations into Bank of Uganda’s fraudulent sale of commercial banks.

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