Information coming in indicates that all is not well with the United Bank for Africa Uganda after a client who has been in the same bank since 2013 found his funds missing equivalent to Uganda shs. 965,000,000.
The client through his lawyers has put the bank to task to return his money before court action is taken within 7 days according to a copy of the letter shared by staff of the bank’s legal services department on condition of anonymity.
We have not yet been able to establish the identity of the client as the bank denied us details and contacts.
Bank of Uganda has been equally informed and confirmed receiving the client’s complaint and this may see the start of the Central Bank arm of investigations stretching to the already struggling bank in terms of business.
It is said that the Bank’s senior management has denied audience to the client which has left staff at the bank puzzled and wondering what conspiracy could be at play.
A banking expert has told us that this is in total breach of the Bank-customer fiduciary relationship and may result in leading the bank into losses.
Efforts to access the ED of the bank for a comment failed as he is out of office purportedly on leave.
This is a developing story. We shall update you as more details become available.
