The Central Bank top officials led by the Governor Emmanuel Mutebile will face The MPs on Commissions Statutory Authorities and State Enterprises (Cosase) committee afresh to explain the closure of seven commercial banks as revealed by the Auditor General John Muwanga.
Hon. Abdul Katuntu, the outgoing chairman of COSASE and his team are pushing to have Bank of Uganda officials testify under oath.
Sources close to Cosase said some MPs want the Governor, Mr Emmanuel Tumusiime-Mutebile, and other officials at the Central Bank put under oath because the Auditor General indicated in his recent report to Parliament that some key documents on the closed banks were not given to him, reports Daily Monitor.
These include the budget for internal and external operations, list of contracts [with external lawyers], list of all the advocates and total expenditures on hired lawyers.
Mutebile and his team will be asked to provide details on the BoU expenditures on external law firms hired during the liquidation of Teefe Bank (1993), International Credit Bank Ltd (1998), Greenland Bank (1999), The Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and the sale of Crane Bank Ltd (CBL) to dfcu (2016).
