Makerere University students grill Stanbic Bank boss over internship allowances

Makerere university students led by their Guild President Bala David Bwiruka have stormed stanbic bank Makerere branch, demanding to know why some students have not received their internship allowances, yet the university had released the money.

Students grilled the stanbic bank branch manager Makerere branch, who told them that he was not aware of anything. He instead referred them to officials at the main branch, located at Cham Towers.

University officials are investigating allegations that Stanbic bank, deliberately tamper with bank accounts of students who don’t have accounts with Stanbic Bank.

This new development comes after many students are still complaining of not receiving their internship money, despite submitting in correct details of their bank accounts.

This was after students went and grilled Makerere university cashier who showed them the correct details of the students’ account numbers that were submitted to Stanbic bank.

However, when the cashier saw the final list that was sent to Centenary bank Makerere branch, by stanbic bank officials, the details could not match.

It is alleged that students who bank with Stanbic get their money on time while those with accounts in different banks take long or fail to receive their money on time. With this trend of events, students are then driven to open accounts with stanbic bank “since it processes their money faster”.

“We have found out that the, University sends internship money and the correct information to Stanbic Bank which is supposed to then disburse the money to other banks, but it appears that Stanbic Bank chops off one digit of the account numbers of some students who bank with those other banks such as Centenary Bank, Crane Bank and DFCU.” Makerere University Guild President, Bala David Bwiruka revealed.

It is on this note that when Stanbic bank sends the money to other banks, the money bounces back and those students who bank with that bank end up not receiving their internship money since Stanbic sent incomplete account number information, yet in actual sense stanbic bank officials deliberately remove some digits.

Makerere University chief security officer CP Thomas Kassimo said they will investigate the matter.

SOURCE: THE MAKERENEAN