Museveni summons BoU governor, IGG over standoff

President Museveni has summoned governor Bank of Uganda Emmanuel Tumusiime Mutebile and Inspectorate of Government, Irene Mulyagonja to mediate the standoff between the two government institutions which has attracted mixed reactions of politicians and the legal fraternity.

The red line between the two powerful government institutions was drawn in February when governor bank of Uganda Emmanuel Mutebile sacked executive director in charge of supervision Justine Bagyenda who was set to retire in June this year and replaced her with Tumubweine Twinemanzi, a former director for industry affairs and content and the Uganda Communications Commission (UCC)

http://nilepost.co.ug/2018/03/22/mutebile-to-igg-dont-nose-into-bou-internal-affairs/

Following the prompt reshuffles, Mulyagonja wrote a letter to Mutebile and the board halting the transfers with immediate effect until such a time when the investigation by the inspectorate has been concluded.

According to tMulyagonja, this was not done in good faith and blocked the move which attracted verbal exchange of words between the two elephants. In an exclusive interview with NBS TV on March 22, Mulyagonja said the constitution gives her powers to administer issues in the central bank and doesnt understand why the governor thinks that the independence of bank of Uganda extends to administrative functions.

“But if there are complaints coming to the IGG that something has gone wrong, should we keep quiet because the constitution says that Bank of Uganda is independent,” Mulyagonja said.

http://nilepost.co.ug/2018/02/07/central-bank-sacks-supervision-director-announces-40-staff-changes/

However, Mutebile quoted Article 162 (2) of the Constitution which provides that; “In performing its functions, the Bank of Uganda shall conform to this Constitution but shall not be subject to the direction or control of any person or authority.” He thus telling the IGG to poke off her nose from the financial institution.

According to his letter dated March 6; “Neither His Excellency, the President nor the Parliament of Uganda have ever  interfered directly in  the Board of Directors or the Governor in the manner set out in your letter. Even the Judiciary has been very careful to protect the Independence of the Bank of Uganda.”

But when contacted, the Presidency could not comment on the matter.