• EDITORIAL POLICY
  • ABOUT US
PML Daily
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home NEWS

Over 5000 Ugandans petition Parliament after being cheated by cryptocurrency firm

JAVIRA SSEBWAMI | PML Daily Staff WriterbyJAVIRA SSEBWAMI | PML Daily Staff Writer
January 16, 2020
23 0
43
SHARES
333
VIEWS
FacebookWhatsAppTwitter
Presenting their petition to the Speaker, the group leader, Arthur Asiimwe, said that the company was working as a microfinance company yet it was registered as a non-deposit financial institution. (PHOTO/PML Daily)

KAMPALA – Over 5,000 people have petitioned Parliament seeking a refund of money invested in Dunamiscoins Resource Ltd, a private firm that accepted deposits before suddenly closing shop in December.

Dunamiscoins Resource Ltd was a privately owned company, which claimed it was committed to providing complementary roles to banks, bridging gaps for the informal sector by providing income for the poor.

The Company’s bank account was frozen late last year and the petitioners say that they are not sure of their having invested up to UGX. 23 billion.
Presenting their petition to the Speaker, the group leader, Arthur Asiimwe, said that the company was working as a microfinance company yet it was registered as a non-deposit financial institution.

“Government licensed this company and gave it the go-ahead to work as a non-deposit taking financial institution; it carried out its duties as a microfinance company. They gave unrealistic bonuses,” said Asiimwe adding that the firm gave interest rates of between 30 and 40 percent for UGX.1 to UGX2 million.

Asiimwe said that only two of three directors, Samson Lwanga and Mary Nabunya have been arrested, while Susan Awoni, the Managing Director remained at large.
“We are not satisfied with what the Police report that they have failed to arrest the third director. We request that the Financial Intelligence Authority follows this up and trace where the money is and we are refunded,” Asiimwe said.

Speaker Rebecca Kadaga promised to engage the responsible government ministries and try to find a solution to the problem.

“Since you petitioned the President already, I will talk to him and invite the Minister of Finance, Uganda Micro Finance Regulatory Authority next week so we can forge a way forward,” he said.

Related

Leave a comment

Tags: Crypto SavannahCryptocurrencycrytocurrencyMicro financetop

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Advertisement

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us



  • EDITORIAL POLICY
  • ABOUT US

© 2022

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist