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Anti Corruption Activists Demand Central Bank Probe Over Crane Bank Collapse

Anti Corruption Activists Demand Central Bank Probe Over Crane Bank Collapse

By Stuart Yiga

The Anti corruption activists call for an immediate probe into the operations of the central Bank in light of accusations of mismanagement linked to the collapse of Crane Bank and alleged abuse of public funds

Some staff in the supervision department of the Central Bank has been accused of failing to detect that Crane Bank was in a financial meltdown and that some have allegedly accumulated wealth in unclear circumstances.

The public has also been bitter over recent reports that the Central Bank spent over 125 million shillings to buy 300 pens for a memorial lecture

The Executive Director at the Anti-corruption coalition Cissy Kagaba says that the challenges are linked to the fact that the Central Bank has not been audited for a long time.

She also said that there is need for the Inspector General of Government to investigate reports of ill gotten wealth as sighted by a petitioner who wrote to the Inspectorate.

Ethics and Integrity Minister Rev. Fr. Simon Lokodo said the public is right to get enraged about reports of mismanagement at the Central Bank adding that relevant Government agencies must act to restore public confidence in the institution.

This post was syndicated from Red Pepper Uganda. Click here to read the full text on the original website.

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