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Auditors fail to trace Shs478Bn BoU claims to have spent on Crane Bank

A new special audit by the Auditor General has put to question the Bank of Uganda position that it spent Shs478 billion to provide liquidity support to the embattled Crane Bank to enable customers to transact normally after the bank was taken over in October 2016.

According to the Auditor General, there was no evidence that customers withdrew the money and therefore it was not accounted for.

At the time, Crane Bank was under statutory management by Bank of Uganda.

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