BoU, dfcu bank summoned over failure to pay Shs98m to former Crane Bank employee

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Bank of Uganda, Kampala Road
By :

AT Team

Bank of Uganda (BoU) and dfcu bank have been ordered to appear before the Bailiffs and Execution division of the High Court to explain why the money meant for a former Crane Bank employee being held in dfcu bank has not been paid as ruled by Court a few months back.

The former Crane Bank employee, Ismail Shakil Pathan sued BoU and dfcu when he noted wrongful deductions had been made on his account which had also been blocked without his prior knowledge.

Africa Tembelea has learnt that in a Friday, May 24 order, High Court deputy registrar Flavia Nabakooza ordered both BoU and dfcu Bank to appear before court on June 4, and explain why their accounts should not be attached.

“Costs of this application are to be met by the judgment creditor.”

Defunct Crane Bank

This follows Justice David Wangutusi’s ruling on January 15, 2019 where he ordered dfcu Bank to pay Pathan Shs62 million compensation, general damages of Shs 20 million and costs of the suit, plus an interest rate of 21 percent of the total sum from April 2016.

However, the bank has since refused to compensate the plaintiff which prompted Pathan to take the matter to the Bailiffs and Execution Division.

In October 2016, the Central Bank took over Crane Bank on grounds of undercapitalization, placed it under receivership before fraudulently selling the commercial bank to dfcu in January 2017.

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