Bank of Uganda rejects legal challenge over NBC seizure
The Bank of Uganda will proceed as planned with the sale of the assets of National Bank of Commerce (NBC), the commercial bank it seized last week, despite encountering opposition from the country's Constitutional Court.
According to the central bank, the court issued an interim order on September 28, seeking to "restrain" the sale of the assets or business of NBC, the implementation of the winding-up order issued last week and the suspension of NBC's managing director.
However, in a press
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