When it comes to probing the contested takeover of Crane Bank, DFCU Bank top managers want to be a ‘class act’ as they appear before the investigative committee of Parliament led by Hon. Abdul Katuntu.
Commission on State Agencies and Statutory Enterprises (COSASE) opened fresh inquiry in the fraudulent sale and closure of seven commercial banks since 1993 and 2017 as revealed by the Auditor General Johm Muwanga who penned an 80 page dossier citing conspiracies between the buyers and regulator- the Bank of Uganda.
The report again exposed a dangerously well orchestrated plan hatched by both Bank of Uganda and DFCU in taking over Crane Bank which belonged to affluent businessman Sudhir Ruparelia.
Bank of Uganda officials headed by Governor Emmanuel Mutebile and his deputy Louis Kasekende last week appeared before COSASE but failed to present documents to support their decision to close, sell the seven financial institutions.
Now DFCU prepares to face-off with COSASE, the bank’s senior managers are having sleepless nights designing a strategy to skillfully outshine the grilling session.
A source at the bank told this website that senior staff led by Juma Kisaame, the Managing Director, Jimmy Mugerwa, the Chairman Board of Directors and others have for some time now planned how to save their necks.
“One of their plots is to either thwart or frustrate the investigations currently being conducted by Parliament’s Commission on State Agencies and Statutory Enterprises (COSASE) into how Bank of Uganda officials fraudulently sold Crane Bank and other commercial banks like Orient, Teefe, UCB, Global Trust Bank, National Bank of Commerce, etc to DFCU,” said an insider.
We are reliably informed that Kisaame, Mugerwa and other Board members recently held a secret Extra Ordinary Meeting (EOM) during which they devised means to manipulate their facts in parliament, such that they confuses legislators on the COSASE.
“Kisaame and Mugerwa want to coach and convince other Board Members to sing the same tune when they appear before COSASE, such that their story matches the one Bank Of Uganda officials gave in Parliament early this week when they appeared before the COSASE,” a source added.
The move is described as illegal, fraudulent and connivance between DFCU and the Central Bank.
Reports point at Kisaame and Mugerwa as long time associates who have shared commissions off the deals they cut with BoU.