Nothing but the truth
Nothing but the truth
Under the new framework, individual account holders will be allowed to withdraw a maximum of sh50m per day and sh500m per week over the counter. For corporate and business accounts, the limits will be set at sh250m per day and sh2.5bn per week. The Bank of Uganda (BoU) has announced the introduction of over-the-counter cash […]
The Anti-Corruption Court on Thursday January 6, remanded eight people for causing financial loss to the government. According to the prosecution, Accountant General Lawrence Ssemakula, Commissioner Treasury Services Jenifer Muhuruzi, and the senior IT officer Yawe Tonny being employed in the Ministry of Finance neglected to put in place measures to safeguard public funds hence resulting in […]
Bank of Uganda has closed EFC Uganda Limited, a microfinance company due to poor financial standing. The action is based on Sections 72 (1) and 12 (1) (d) & (g) of the Microfinance Deposit-taking Institutions (MDI) Act, 2003 as amended. BOU’s decision which also places EFC Uganda Limited located on Kira Road under liquidation also revoked […]
