How Mugash ‘tricked’ Yako Bank into believing he had cleared his loan
On November 4, 2021, Yako Bank Uganda advanced Eliab Mugash a loan of Shs174 million, which was to run for two years. The loan attracted 20% interest per year, so by the end of the loan period, Mugash was expected to pay back a total of Shs212.4 million, which included both the borrowed money (principal)…