A fuel company’s truck got an accident, spilled fuel and went to NIC for compensation. Insurance firm declined

The Commercial Court has overturned an earlier decision ordering the National Insurance Corporation (NIC) to compensate Rock Global Oils (U) for more than Shs 45.8 million after it lost fuel in a road accident. It all started in 2014 when Rock Global Oils, a company involved in transporting fuel from Kenya to Uganda, took out…

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How Stanbic froze Entebbe mayor Rulinda’s account over gold deal with M23 rebels

On August 11, 2017, Fabrice Rulinda, the Entebbe mayor and PLU activist, received $73,000 ( about Shs 275 million) in his dollar account the dollar account at Stanbic’s Bugolobi branch. The money was deposited by a company called Green Global Corporation, which deals in gold. Suspicious, Stanbic Bank reversed the transaction and sent the money…

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