The continued leakage of confidential documents from the Central Bank has soiled the image of the institution.
It is against this backdrop that the institution’s head Governor Emmanuel Tumusime Mutebile issued an emotional apology to MPs as Bank of Uganda continues to ‘tread in murky waters.’
Over the past few weeks its officials have been appearing daily before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) to account for the closure of seven commercial banks between 1993 and 2017.
The probe by parliament was prompted by a report released in September by the Auditor General whose details exposes Bank of Uganda for not undertaking required procedures in closing off the banks.
While conducting its investigations COSASE through its chairperson Mr. Abdu Katuntu agreed with the defendants to respect the confidentiality clause.
However, the committee was dismayed to learn BoU had violated the agreement.
Mutebile told the Committee that he isn’t in the know how a letter addressed to COSASE detailing the confidential documents made its way to public and that an investigation was being conducted to have the matter dealt with.
“It’s true I signed this letter but this letter was actually not to come to you yet; it was supposed to come to you at the right time during our discussions.” Mutebile said, adding: “Unfortunately, I can only say at this point in time, I have instituted investigations to find out what really happened, I can assure you that I am equally shocked by this occurrence.”
Mr. Katuntu questioned whether probe will be reduced to social media mockery.
Mutebile’s letter came after him and his team had expressed unwillingness to avail documents detailing the selling of commercial banks.
But he later made a u-turn.