BoU Governor To Sweat Plasma Before COSASE Over Commercial Banks Sale

BoU Governor To Sweat Plasma Before COSASE Over Commercial Banks Sale

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By Andrew Irumba

Bank of Uganda governor Prof. Emmanuel Tumusiime Mutebile is slated to face off with legislators sitting on the committee on Commissions, State Enterprises and Statutory Authorities (COSASE).

SpyUganda has learnt that among other things COSASE wants Mutebile to explain when he appears on Thursday next week is

his response  to petitions related to closure of commercial banks.

COSASE Chairperson, Mubarak Munyagwa issued the summons to Mutebile, after  Bank of Uganda officials failed to turn up for three scheduled meetings.  Munyagwa noted that the BOU officials were expected to appear before the committee last Thursday, yesterday (Tuesday) and Wednesday (today) but they did not.     

Munyagwa said that “It is better for BoU officials including Mutebile to attend the meetings as they listen to petitioners who allege that they lost properties following the closure of seven commercial banks.”

The committee adjourned the session prematurely because only the petitioner, Chris Tushabe Karobwa had appeared while the BOU Officials had not turned up.

Other MPs led by Katakwi Woman MP, Violet Adome Akurut and Gideon Onyango (Samia Bugwe North) welcomed the decision. They noted that BoU officials must realize that there are people who lost properties or were grossly affected following the closure of seven commercial banks.  

The Committee had invited BOU officials led by Mutebile to appear and respond to complaints by Karobwa who claims he lost properties worth Ssh1.42Bn  and an overdraft of Shs600m when the Cooperative Bank was closed in 1997

The Constitution gives Parliamentary committees’ quasi powers of the High Court to issue summons to any minister or person holding public office and private individuals and also enforce the attendance of witnesses for its proceedings.

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