By Acaye Henery
MPs shocked to learn that Bank of Uganda forced crane Bank to acquire NBC.
The information of forceful directive for Crane Bank to acquire NBC was disclosed by City tycoon Dr.Sudhir Ruparelia who made a maiden appearance before Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) .
Sudhir was facing the probe committee for the very first time, directly to speak about the controversial sale of his Crane Bank Ltd (CBL) to (DFCU) at a paltry Shs200b, and on credit!
The committee led by Bugweri county MP Abdu Katuntu is in it’s final phase of the inquiry into the irregular closure of seven defunct commercial banks, that has put key central bank officials into the spotlight following the controversial sale of Crane Bank Ltd sale to (dfcu) Bank for a paltry Shs 200 billion .
After his submission before the committee, it is understood that Mr Rupareria is more sinned against after the central bank sought to blame him for the problems leading up to the closure of the bank after leads indicated a more rotten system at BoU.
The central bank in October 2016 closed Crane Bank Ltd, previously one of the best performing banks before controversially selling it (DFCU) Bank in January 2017 for a paltry Shs 200 billion.
