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Youth Activists Give 60 Days Ultimatum to Have Crane Bank Report

Youth Activists Give 60 Days Ultimatum to Have Crane Bank Report

By Damba Rogers.

Youth activists under their umbrella body, Youth crusaders are giving the central bank together with the financial intelligence agency an ultimatum of 60 days to produce the crane bank report.

Crane bank was sold off to DFCU bank at the start of this year following reports from the central bank supervision department, that it was not meeting the requirements for a commercial bank to operate in the country with the case of mismanagement of funds by the owners still in the commercial court.

According to the national coordinator, Nakazibwe Fatinah and Kazibwe Bashir their publicist, they are blaming the then director bank supervision, Justine Bagyenda for not fully playing her role but instead turned around to close the bank which used to employee more than 600 youth, hence fueling unemployment in the country.

They now warn that, if the 60 days ultimatum elapses with no report detailing why the said bank among other banks were closed, they might be forced to demonstrate before.

The youth remind the nation that it was crane bank which has set up branches in almost every corner of Uganda with the aim of extending services to the local Ugandans as well as creating jobs for them regardless of where they are stationed.

With such tactics, the bank managed to scoop a series of accolades as the best bank in the country for a good number of years. But it was to a surprise that a year later after winning its last award, it was announced insolvent by the central bank.

Over the year, Uganda has registered closure and sell off of banks among them being, Greenland bank, Cooperative bank, Uganda commercial bank among other and the latest being Crane bank.


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