UPC sues Orient bank over stolen Shs570m


Orient Bank Ltd has been dragged to the Commercial Court by Uganda People’s Congress for failure to refund over Shs 570 million which was unlawfully withdrawn from its account.

The party claims that the money in question was withdrawn from its three accounts in Orient Bank between 21st July 2015 and 14th Jan 2016 by unauthorized persons.

The party officials claim that they notified the bank that Rev Deus Ogwal, Peter Walubiri and Okello Lucima were the only authorized signatories.

The bank has been summoned to respond to the allegations within 15 days before the case is set for hearing.

In July 2015, UPC party activities neatly came to a standstill after their bank account was frozen.

The Management of Orient Bank barred all officials from accessing the party account or making transactions till political bickerings between Jimmy Akena group and that of Olara Otunnu cease.

The bank wrote to Akena saying it would reopen the account only when one of the rivalling parties allowed it to be accessed.

This came after the party treasurer, Peter Mukidi Walubiri, wrote to the bank asking that Akena’s group be barred from accessing money.

Story credit: KFM radio

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