Bank of Uganda (BoU), in exercise of its powers under Section 98 (1) of the Financial Institutions Act, 2004 (as amended), on Wednesday 25th May 2022, approved a request from Afriland First Bank Uganda Limited, to apply to the High Court for Voluntary Liquidation.
Afriland First Bank Uganda Limited’s decision for Voluntary Liquidation was an outcome of a strategic business review by the shareholders-Afriland First Group.
“Bank of Uganda hereby informs the public that Afriland First Bank Uganda Limited is a solvent Financial Institution. Therefore, all depositors and other verified creditors shall be paid In full,” said the deputy Governor Michael Ating- Ego.
All depositors of Afriland First Bank Uganda Limited are encouraged to withdraw their deposits from Afriland First Bank Uganda Limited’s premises.
“All other verified creditors shall be paid in full by the Liquidator that has been appointed by shareholders of Afriland First Bank Uganda Limited,” he concluded.
