DFCU Bank board of Directors has trashed a resignation letter tendered in by the Managing Director Juma Kisaame.
The Board led by Chairman Elly Karuhanga wants Mr. Kisaame to explain his role in the ‘fraudulent and malicious’ takeover of Crane Bank.
Other sources say he is relinquishing the bank to give room to William Ssekabembe who two months ago was on the move to KCB.
However the Central Bank rejected the move because Mr. Ssekabembe didn’t have a clearance letter as Managing Director.
The development comes high on heels of an Auditor General Report which implicated Bank of Uganda and DFCU as having connived to fraudulently take over Crane Bank.
The report has triggered parliament to issue fresh summons for Central Bank authorities.
This website also understands that there is panic and distress at DFCU as local employers are being suffocated by a new Kenyan consultant.
“Most of the junior employees are being laid off without an explanation,” a source said.
Also Mr. Kisaame is under pressure to explain to the banker’s shareholders how Shs1.8 billion was spent on the construction of the Dfcu Financial Centre located on the plot of 50×100 at Namanve Industrial and Business Park.
According to the source, shareholders think the project cost Shs700 million. Roko won the contract to build the building. But Roko is said to have subcontracted Kisaame’s construction company to do some of the work.
Months ago, Arise BV’s Deepak Malik who has been a director on the board of the bank resigned and left the board.
Malik’s resignation at the time meant Dfcu board was left with five other non-executive directors led by All Elly Karuhanga as Chairman. Others directors are; Albert Jonkergouw, Winifred Tarinyeba- Kiryabwire, Frederick Kironde Lule and Michael Alan Turner.
