BoU hires Sebalu and Lule, ditches MMAKS and Mpanga

Bank of Uganda has hired Sebalu, Lule and Company Advocates as its new external attorneys, replacing lawyers David Mpanga and Timothy Masembe of AF Mpanga-Bowmans and MMAKS, respectively.

Sources at Bank of Uganda told The Nile Post that Lule, Sebalu and Company Advocates were handed the multi-billion shilling contract yesterday and immediately assumed the duties of representing central bank.

The law firm is one of the oldest indigenous firms.

The replacement of the two law firms, the sources further said, was effected by BoU because the two lawyers had not performed to their satisfaction and were caught up in a web of conflict of interest, having done work for Crane Bank.

This, the sources said,  contradicted the confidentiality clause that governs the banking sector.

At the time of ditching them, BoU had reportedly paid the two law firms over Shs4 billion in litigation fees’ settlements.

When we contacted him, Mpanga declined to comment about the changes yesterday.