For while now, Bank of Uganda top administrators have been appearing before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) to testify against the ‘illegal closure of seven commercial banks.
The seven banks closed between 1993 and 2017 include Teefe Trust Bank, ICB, National Bank of Commerce, Greend Land Bank The Cooperative Bank, Global Trust Bank and Crane Bank.
Several of the officials have been put to task to explain individual roles undertaken while closing the commercial institutions.
The sessions have been covered live on television for purposes of fairness.
There were fears the committee members could ‘harass’ and ‘mistreat’ central bank officials after MPs were allegedly facilitated by businessmen who lost their banks.
As the probe kick started with tracing how Teefe Bank was closed in 1993, it emerged that Central Bank didn’t have inventory report which listed its assets and liabilities.
The Governor Mr. Emmanuel Mutebile denied knowledge of the documents.
As the committee moved to investigate closure of others banks like ICB, National Bank of Commerce and Greenland, things worsened putting BoU on spot.
Today we bring you videos of what has been transpiring in the committee.
