Ex-Stanbic managers sue bank over damages

By Andante Okanya

Two former Stanbic Bank managers have sued the Government demanding damages after a case of fraud against them was dismissed by Buganda Road Court in Kampala.

Daniel Ntambi and James Mukiibi were prosecuted between September 2005 and November 2010over alleged financial loss of the bank's $513,577(about sh1.2b).

In the suit filed at the High Court in Kampala on September 21, the duo claims they were maliciously prosecuted, which tarnished their reputations.

The Government chief legal advisor who is the Attorney General (AG) is listed with Stanbic as joint defendants.

"The consequent malicious prosecution, unlawful arrest, unwarranted and unreasonable charges and false accusations, caused the plaintiffs embarrassment, anguish and ridicule," the plaint states.

The plaint states that on September 5, 2005 while at work in Kampala, Mukiibi(ex-supervisor international business centre) was arrested and handed over to the Police for interrogation after the bank lodged a complaint over the lost funds.

Subsequently the next day, Ntambi (ex-manager international business centre), who had meritoriously retired two years earlier, was summoned by the Police, and the duo was charged at the lower court and then remanded to Luzira Prison.

The duo was freed on bail by the High Court in Kampala on September 27, 2005 (Mukiibi), and October 11, 2005(Ntambi).  They assert that they attended court for 64 months, while reporting for bail thrice a month.

The duo is demanding a refund of sh10m each as special damages for professional fees paid to lawyers who defended them at the Buganda Road Magistrate's court.

They are also claiming specific damages in terms of transport as they attended court for the entire period of trial. Mukiibi is demanding sh3.8m, claiming he spent sh20,000 per route on public means.

Ntambi is demanding sh1.7m, claiming he always spent sh30,000 as fuel for his Dodge Caravan car from the city suburb of Kyengera. Mukiibi states that he subsequently resigned as he could not bear the embarrassment he had to contend with at work.

Court is yet to order the defendants to respond to the allegations. The case file has been allocated to Justice Eldad Mwangusya. However, a hearing date is yet to be fixed.