By Watchdog reporter

Police has dismissed reports that tycoon Sudhir Ruparelia was under investigation.

Police spokesman Andrew Felix Kaweesi told independent newspaper Daily Monitor that Mr Rupaleria was not under any investigation for wrong doing by the police.
In another video making rounds, Police chief Gen Kale Kayihura was asked if police were looking for Mr Rupaleria, and wondered why a journalist was asking a silly question.
“Why?” He asked.

Kaweesi had earlier said the exercise carried out on one of Mr Ruparelia’s premises was done by the Immigration department on people who had overstayed or not processed their work permits.

The Ugandan economy has suffered lack of confidence since the Central bank moved to repossess one of the country’s largest banks. BoU said the bank was under capitalised. The move shook the business community which found Crane Bank more pro- business.

Economists have on several occasions questioned the timing of Crane Bank closure, and concluded that the move was ill advised given the cycle the economy is going through.

The message by the police spokesman is re-assuring to the business community which has developed cold feet over the certainty of their investments in the country.