Isaac-Semakadde

Former Crane bank employee meet petition the speaker over their lost jobs

By Deo Wasswa

The former crane bank employees led by their lawyer Isaac Semakadde have today petitioned the office of speaker demanding her to call them to hear their testimonies on how they were laid off from work and mistreated under the watch of central bank.

The petition requesting the parliament to summon the leaders of bank of Uganda and DFCU to show the cause why they should not be held reliable for covering the mistreatment of former crane bank employees.

They claim that during the crane bank take over, the agreement with central bank was no employee would lose his or her job.

In the same petition the Former employees of the defunct Crane Bank are also demanding for compensation of Shillings 48 billion from Bank of Uganda arising from breach of contract. Until October, 26th 2016 the group was being employed by Crane Bank.

Bank of Uganda took over Crane Bank on grounds that it was incapacitated, according to the law and would pose a systematic risk to the stability of the country’s financial system.

According to the employees, on February 24th, 2017 after the said takeover of Crane Bank, DFCU wrote a memo to its entire staff to the effect that several employees would be collectively terminated effective immediately.

They allege that the collective termination only targeted them purportedly due to assurances and inducements given to DFCU Bank and Bank of Uganda.

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