Ivan Asiimwe, a former shareholder of Cooperative Bank Limited informed the committee that in 1964 different cooperative unions established the Cooperative Bank under the Cooperative Societies Act and that a second Cooperative Bank was incorporated in 1997 under the Companys Act.
Biribonwa said that the investors including Atlas Mara and Lanka Orix Leasing Company LOLC, a Sri Lankan investor had also met with the former BoU Executive Director Supervision, Justine Bagyenda and that she knew they were in the process of conducting due diligence.
Sudhir says that Crane Bank was never interested in acquiring the assets and liabilities of the National Bank of Commerce-NBC, but was coerced by former Central Bank Executive Director Supervision, Justine Bagyenda, through a phone call placed to former Crane Bank Managing Director A.R Kalan.
Dennis Obbo, the Spokesperson of the Lands, Housing and Urban Development Ministry, explains that the ministry is jointly processing the Uganda Land Commission Bill with the First Parliamentary Counsel, which drafts, reviews and publishes Bills for presentation to parliament.
According to Sudhir, the Purchase of Assets and Liabilities PA agreement signed between BoU and DFCU did not have details of all assets and liabilities that were being taken over.
The objective of the Bill is to amend the Administration of Parliament Act to allow for the election of Leader of Opposition following the nomination of at least three contenders by the leading opposition party. It also seeks to amend the method of choosing the party whips, choosing the deputy Leader of Opposition and whips.
According to Namugera, in this financial year, they received 530 Billion Shillings and yet they needed One Trillion shillings for roads all over the country.
The drivers are usually expected to pick the permits after making payments for express penalty tickets issued to them by traffic police. However, many of these tickets are never collected and are now piled up at traffic police offices.
