KAMPALA — Budadiri East Member of Parliament Hon. Eng. Julius Nakiyi has raised questions over the outstanding Shs 219 billion receivable from Crane Bank by the Bank of Uganda, calling for clarity on the recovery of funds linked to the defunct financial institution.
Nakiyi made the submission during a parliamentary committee meeting at the Parliament of Uganda, where issues surrounding the outstanding debt, payments made on behalf of Crane Bank’s shareholders and the recovery process were discussed.
In his presentation, Nakiyi referred to the position as of June 30, 2025, indicating that the Bank of Uganda had a receivable of Shs 219 billion from Crane Bank.
The legislator explained that the arrangement had envisaged Crane Bank’s shareholders meeting obligations to creditors. However, he said the shareholders were unable to fulfil those obligations, forcing the central bank to make payments on their behalf.
Nakiyi further told the committee that the Bank of Uganda had paid approximately Shs 430 billion on behalf of the shareholders and was subsequently expected to recover the money.
He explained that recovery efforts had yielded approximately Shs 200 billion, leaving a balance that the shareholders were expected to settle.
The MP noted that the outstanding amount had not been fully settled, raising questions about the recovery process and the responsibility of the shareholders in meeting the remaining obligations.
Nakiyi said the details surrounding the outstanding funds were among the issues that required clarification from the shareholders, emphasising the need to establish how the money would be recovered.
His submission places the recovery of funds associated with Crane Bank under scrutiny as Parliament examines the financial obligations and outstanding amounts involving the Bank of Uganda.
