Exposed! Conspiracy Cited In Munyagwa, Kasekende BoU Fresh Audit

Exposed! Conspiracy Cited In Munyagwa, Kasekende BoU Fresh Audit

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By Andrew Irumba

Kampala: Political and economic analysts have started poking holes in the ongoing Bank of Uganda auditing inquest by Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE).

The Comittee, led by  Kawempe South MP Mubarak Munyagwa, is quizzing BoU officials led by deputy governor Louis Kasekende, about the auditing of BoU’s accounts and how the national Bank has been operating for decades without an Accounting Officer. However, analysts contend that Munyagwa’s quizzing Kasekende and other BoU officials is a wastage of the tax payer’s money and scarce resources at parliament. The analysts argue that there are currently many cases before COSASE but they wonder why Munyagwa chose to start working on the BoU case, which had already been exhausted by Abdul Katuntu, the former COSASE chairman. It is that suspected that there might be a ploy between Munyagwa and Kasekende to hoodwink the public that they  doing COSASE work, yet in actual sense they playing monkey tricks. The analysts argue that Munyagwa repeating what Katuntu before did could be conspiracy to allow Kasekende bring doctored audits into the committee and finally walk away Scot-free.

The Set-up is that The set is that Kasekende is using Munyagwa to bring to COSASE  audited BoU accounts and transactions which they could not present to  Katuntu’s Commission, something that has raised eyebrows.  It is said that Kasekande even tried to go through the deputy Auditor General to do the same but in vain and he is now waiting for an opportunity to present to COSASE UN audited accounts which will exonerate the entire BoU team of any foul play. It should be noted that Munyagwa’s Committee first insisted on an accounting office of which the law doesn’t provide for; this committee is looking for a ways to introduce a new document and that is the fake accountability BOU has now cooked of the Shs487 billion that wasn’t accounted for. The whole purpose of these fake proceeding is to introduce this fake accountability so that the past report can be watered down.

COSASE committee under Katuntu investigated BOU and sale of Banks, during an  investigation which was based on the Auditor General’s report. After a publicized investigation that consumed over Shs400 million the committee made strong recommendations to Parliament. During those investigations BOU FAILED to account for Shs478 billion released to re-capitalize Crane Bank, the BOU and Auditor General never received this accountability, to go around this they have tricked the new committee into opening an investigation so that they can introduce this matter and this time bring up the cooked figures of the money which was given to legislators on the Committee. . Analysts thus argue that is it in order for Munyagwa and his new committee to reopen investigations on a matter that the taxpayer has already invested in with less or no action taken?

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