Following the Auditor General’s report over the illegalities in closure and takeover of several banks to Parliament, the August House’s committee on Commissions, State Authorities and State Enterprises (Cosase) has summoned Bank of Uganda Governor Bank Emmanuel Mutebile, his Deputy Luis Kasekende and board members to respond to several queries.
“Yes, we have summoned them. There are some queries raised by the Auditor General that they need to answer,” the committee’s deputy chairperson Anita Among told journalists yesterday.
The MPs deliberated to summon the BoU officials following a closed meeting aimed at drafting a master plan for the long-awaited interface with the central bank officials.
The committee is chaired by MP Abdu Katuntu who was instrumental in getting the Auditor General’s office to investigate BoU following the takeover of Crane Bank by DFCU. The AG’s report pointed out several anomalies including the revelation that DFCU dictated the purchase price. The report concluded that there was possible collusion and fraud between BoU and DFCU officials.
The other banks in question are Teefe Bank, International Credit Bank Ltd, Greenland Bank, The Co-operative Bank, National Bank of Commerce and Global Trust Bank.
The 94-page report indicates that BoU did not follow any guidelines/regulations or policies in the sale of Crane Bank to dfcu Bank last year and in the closure of the other banks.
It has also been revealed that other stakeholders in the sale and buying of these commercial banks will be summoned by the
The Committee members also indicated on how the other stakeholders in the sale and buying of these commercial banks will be summoned after interfacing with Bank of Uganda officials.