The board of directors of the National Savings and Credit Bank (NATSAVE) fired Cephas Chabu from his position as Managing Director today.

According to a statement issued by NATSAVE Board Chairman Evans Chibiliti today, the bank’s Deputy Managing Director Mary Munansangu will act in the position of Managing Director for administrative convenience in the meantime.

“The Board wishes to thank Mr Chabu for his effort in raising the profile of the bank and wishes him well in his future endeavours,” read the brief statement.