Aruu County MP Hon Odonga Otto has asked Bank of Uganda to swallow its pride and apologize to the former management of Crane Bank Ltd because it has been severely proven wrong for closing their financial institution.
Hon Otto remarked that the report of the committee of parliament clearly states that some criminals in the Central bank connived and sold former Crane Bank owned by Dr. Sudhir Ruparelia for personal gains.
”Bank of Uganda should swallow their pride and apologize to the management of Crane Bank because the report of the committee of parliament is clear, some criminals in BoU sold Crane Bank for personal gains now the truth is coming out and Bank of Uganda is losing”. Hon Odonga said.
The legislator who is also a lawyer says in order to save the tax payer’s money being wasted by Bank of Uganda, the report of the Committee of Parliament should be followed and implemented.
He also noted that it's not perfect time for bank of Uganda to appeal Court of Appeal judgement saying that the writing on the wall is very clear, Bank of Uganda is wrong and will continue to lose even in the supreme court.
” To save taxpayers of money the report should be followed because this is not the perfect time for Bank of Uganda to appeal and the writing on the wall is clear” He adds.
“First of all if you are selling a bank its the liquidity, not the buildings, do the buildings belong to Crane Bank Ltd?"
“I can have a building belonging to Odonga Otto Company Ltd and I can be running my business in those buildings. If the business goes bad, its not the buildings”. Explained Aruu legislator.
He called on the Central bank officials to save the country from their expensive lawyers and concede the matter of Crane bank LTD.
” I think Bank of Uganda should just save us from those big lawyers to save taxpayers and swallow their pride and just say we concede on this matter of Crane Bank Ltd”.
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