Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi


Terrorism-linked DTB Bank loses case ordered to refund 130 billion shillings

Diamond Trust Bank Group CEO Ms Nasim Devji

Diamond Trust Bank (DTB) group has been ordered to pay Ugx 120Billion (Sh3.5 billion) and an additional interest of 8% (Sh282 million) to Ham Enterprises after losing the fraudcase.

In January 2020, Ham Enterprises sued Diamond Trust Bank Uganda and Kenya for fraudulently debiting over Sh3.5 billion from their Shillings and Dollar accounts over a spread period of about 10 years.

DTB responded by demanding Sh1.1 Billion and asking the court to impose regulation 13 which requires that anyone challenging a Bank must deposit 30% of the disputed amount in court. Ham Enterprises successfully challenged the constitutionality of the regulation.

Analyst praise the ruling calling it a landmark victory towards cleaning Uganda’s Banking Industry which needs serious reforms.

In today’s ruling the honorable court has ordered Diamond Trust Bank to pay all monies that were illegally debited from Ham Enterprises U Ltd accounts including penalties and return of all the land titles that the bank has been holding that belongs to Ham Enterprises U Ltd.

The Case was filed at the commercial division of the High Court of Uganda and the presiding judge was Henry Peter Adonyo.

Analysts say that the case is a very positive one and is successful towards eliminating the rampant exploitation of Ugandans by Banks through illegal activities that had been previously backed by Section 13 of the Mortgage Act.

The case elicited a lot of public interest and will forever change Uganda’s banking industry.



Clients flee DTB Bank after exposé


Terrorism-linked DTB Bank CEO to testify over ‘100 billion’ illegal withdrawal’s case in Uganda


Clients flee DTB Bank after exposé

Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.



Click to comment


You May Also Like


*Editor’s Note: This open letter to Safaricom has been published as received. No redactions have taken place to avoid legal issues pending a court...


  These pictures you are about to view calls to heart the need to be extremely careful about what you do in the  secret...


This is an intervention for Victoria Rubadiri so as to help her revert back to factory settings. We notice your slow drift away into...


Caption : Edwin Kigen Who was Murdered in Madaraka Estate. We demand for answers from Boinnet ! Another young man may have been brutally assaulted and...

Copyright © 2020 Cyprian Is Nyakundi.