The Central Bank will not release any supporting document to the investigative committee of parliament- Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) regarding closure of seven private banks, this website has learnt.
According to an insider in Bank of Uganda (BoU), the deputy governor Mr. Louis Kasekende has instructed his team to ignore COSASE’s directive so as to frustrate the inquiry in which MPs are tasking BoU officials to account for the closure and sale of the commercial banks between 1993 and 2017.
The probe was prompted by the Auditor General’s report which exposed the Central Bank for not following the right procedure while closing the financial institutions.
The Auditor General indicated in his 80 page report that officials failed to provide key documents to defend their decisions of selling or closing the banks.
Appearing before MPs last Wednesday Governor Emmanuel Mutebile and his team failed for the second time to avail an inventory report of Teefe Trust Bank which was closed in 1993 to the MPs chaired by Hon Abdul Katuntu.
But our source at BoU indicated failing to provide the files is a move aiming at frustrating the investigations until Katuntu led committee term of office expires next month.
Our source said Kasekende told his associates that it would be a waste of time to give documents to Katuntu whose term is ‘crashing’ in December.
The deputy governor disregards Parliament as worst institution that deserves no respect.
