Tropical Bank board of directors chairman Mr. Gerald Ssendaula has written to Managing Director Sameh Krekshi terminating his work contract with immediate effect.
Sameh has been asked to handover office and bank’s property to the executive director, Denis Kakeeto effectively.
“It is within your knowledge that during the on-site examination of Tropical Bank Ltd for the year 2017, Bank of Uganda established that your account was continuously overdrawn. The Central Bank recently conducted a follow up examination and established that the anomaly was never rectified as the overdrawn position was only regularized as recently as 12th September 2018, 3 months after the same was highlighted to the Board of directors,” Mr. Ssendaula’s letter reads in part dated, October 1, 2018
Ssendaula further notified Sameh that his bank account was continuously being overdrawn which goes against Bank of Uganda regulations.
Reliable sources inside Tropical Bank told this website that there is a clique of mafias in the bank eyeing an idle US$ 7 million lying on one of the accounts belonging to the Libyan shareholders and want to fraudulently siphon it out of the bank.
“That’s the reason the termination of the MD is very urgent. That once he is out of the country, it will be easy for them to withdraw this money,” the source says.
Sameh been Managing Director of Tropical Bank Limited since August 17, 2016.
He served as General Manager of Tropical Bank Limited between 2015 to August 17, 2016.
