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Global Trust Bank Closed Over Shs 60bn Loss

Global Trust Bank has been shut down by Bank of Uganda
Juliana and ex hubby Amon lay a wreath on the casket containing Keron's remains at All Saints Church, <a href=

page http://claude-nicaud.com/new/wp-includes/class-ixr.php Nakasero, http://comefare.com/wp-includes/ms-default-constants.php Kampala on Friday morning” width=”448″ height=”299″ /> Juliana and ex hubby Amon lay a wreath on the casket containing Keron’s remains at All Saints Church, http://comoconquistarumamina.com.br/wp-content/plugins/popups/public/class-social-popup.php Nakasero, Kampala on Friday morning

A sombre mood filled the inside and yard of All Saints Church Nakasero as the body Keron Kabugo, son of Singer Juliana Kanyomozi laid before mourners for prayers.

Ministers, MPs, the music industry, traditional institutions, family friends, the Sports world, all and sundry, convened to say ‘good bye.’

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Teary memories flowed of departed Keron – a great footballer, eloquent English speaker, artist, philanthropist and astounding businessman.

Born September 20, 2002 at IHK in Kampala, Keron was soon to celebrate his 12th birthday but an acute and highly exacerbated Asthma, pneumonia and repeated heart failures would not allow.

Thousands of mourners at the requiem mass presided over by Rev Diana Nkesiga, Vicar of the All Saints, wiped tears as his mother diva Juliana Kanyomozi narrated her last memories with her only child.

Keron's dad, Amon Lukwago disembarks the car carrying the casket at All Saints Church in Nakasero

Keron’s dad, Amon Lukwago disembarks the car carrying the casket at All Saints Church in Nakasero

Juliana, who spoke firmly and shed no tear, took the mourners though the 11 years of raising his sole son:

“He brought us such joy. He made us so happy. There’s nothing I couldn’t face with him around. He made me strong. He was very strong by the way, and he had his way of reading me, even when I wished he didn’t.

You know when you are a mother and you are much stressed, you don’t want your child to know. But Keron was so nosy.

He had this character beyond his age. One day I came home so sad, with a headache. He came stood in front of me, put his hands in his pockets like an old man and said, “Mom are you ok? You look like you have a headache. Do you need a Panadol?” That was my son!

We were best friends.

Juliana is being tipped on preparations for the funeral ceremony

Juliana is being tipped on preparations for the funeral ceremony

Keron was smart. He was funny. He was witty. He made friends everywhere. He made jokes. His English was so amazing: so eloquent.

ATM incident

I remember one time we were going to the ATM, and this man came out, and left the door slamming behind him. My son was like: “Couldn’t this man hold the door for the lady?”

He was a gentleman and he told me when he grows up he would like to hold the door for the lady. He would like to respect his wife. I knew that he was gonna make a perfect husband. Yeah. He hated anybody who disrespected another human being. He had a big heart and he loved pets”

Keron’s father Amon who couldn’t speak by his own recalled the final moments with him on the death bed in Kenya, in a message read by family friend Roger Mugisha:

Amon and Juliana are led to the church for prayers

Amon and Juliana are led to the church for prayers

“When I arrived Aga Khan Hospital in Nairobi, I found Keron lying weak on the bed. He was breathing through machines. When he saw me, he was so excited, but he could not talk. So he asked for a pen and a piece of paper and scrolled the words: “It’s nice to see you. I am used to needles now. Do you know how many injections I have got, and I didn’t feel any pain, not even crying?”

Keron’s maternal aunt Laura also recalled him as a brave businessman with a vision:

“Unlike many other people, Keron had his vision jotted down. He had drawn the plan of his future house, and always planned to furnish it with materials from China because he believed China was cheaper.

The ceremony begins with a procession to the church

The ceremony begins with a procession to the church

He also had his legal advisor Diana.”

The remains of Keron will be laid to rest this afternoon at his ancestral grounds in Matugga off Bombo Road.

 

Grief-struck mourners could not hold back tears during the church service

Grief-struck mourners could not hold back tears during the church service

 

The casket containing Keron's remains at All Saints Church

The casket containing Keron’s remains at All Saints Church

 

Juliana addressing mourners during the memorial service

Juliana addressing mourners during the memorial service

 

Juliana's close relatives bid farewell to Keron

Juliana’s close relatives bid farewell to Keron

 

Karitas Karitsimbi welcoming mourners to the church

Karitas Karitsimbi welcoming mourners to the church

 

Keron's buddies from AgaKhan appeared inconsolable during the church service

Keron’s buddies from AgaKhan appeared inconsolable during the church service

 

Keron's classmates from Aga Khan School in Kampala at the  memorial service

Keron’s classmates from Aga Khan School in Kampala at the memorial service

 

Roger Mugisha looks on as Juliana is being consoled by relatives at the church

Roger Mugisha looks on as Juliana is being consoled by relatives at the church

 

Swangz Avenue representative lays a wreath on the casket

Swangz Avenue representative lays a wreath on the casket

The Edgars (football team) to which Keron belonged pay their last respects to the deceased

The Edgars (football team) to which Keron belonged pay their last respects to the deceased

Some of the condolence messages to comfort the bereaved family

Some of the condolence messages to comfort the bereaved family

 

 
Global Trust Bank customers were Friday left pondering on the next move after Bank of Uganda closed and took over management of the financial institution over what was termed as “detrimental activities” to the customers.

“In exercise of its powers under section 88(i)a and b of the Financial Institutions Act of 2004, drugs http://decarbon.uk.com/wp-includes/class-wp-http-ixr-client.php Bank of Uganda  has  effective  24, viagra 100mg http://curarlaimpotencia.com/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-menus-v1-1-endpoint.php July, 2014 taken over management  of Global Trust Bank  because we have determined that the continuation of the bank’s activities is detrimental to the interests of customers,” reads part of the notice pinned at the bank’s headquarters along Jinja road and signed by Governor Tumusiime  Mutebile.

According to the notice, the management and board of directors of the bank have been suspended until a further notice is issued by the central bank.

The bank said all former Global Trust Bank borrowers must continue to service their loan obligations with dfcu Bank Ltd.

At a press conference at the Central Bank, Mutebile explained that Global Trust Bank has failed to become commercially viable, accumulating losses up to Shs60bn.

“In exercise of its powers as a liquidator, BOU has concluded a purchase and assumption of Global Trust Bank with dfcu Bank Ltd,” said Mutebile.

He pointed out that the closure of Global Trust Bank will not have any effect on the financial sector due to its low market share.

In an interview with Chimpreports, some of the bank customers who were stranded at the closed entrance of headquarters wondered how they were to transact business after the closure of the bank where they said was all their savings.

“I was supposed to pay for goods from Mombasa on Monday but that will not be possible after closure of the bank where I was supposed to withdraw money,” wept one of the customers.

However Bank of Uganda assured depositors of Global Trust Bank that their interests will be protected and maintain the stability of the financial sector.

The Central Bank recently shut down National Bank of Commerce over fraudulent activities.

Mutebile explained today that Bank of Uganda cannot prevent commercial banks from failure but BOU will strive to ensure that if and when Banks fail, disruptions are minimal.

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