Next in COSASE's hot seat: BoU's Benedict Sekabira

Benedict Sekabira, the director Financial Markets Development at Bank of Uganda will today sit in the hot seat and clarify his role in the closure of commercial banks in Uganda.

Before COSASE, Sekabira is expected to present his letters of appointment as asked by the MPs on Wednesday.

Sekabira was the liquidator of three controversial banks — the ICB, Greenland and Co-operative Bank, all closed in the 1990s.

Yesterday he faced a rough time in parliament as MPs sought to know how he got appointed to the role.

He first told them that he did not have a copy of his appointment letter before he said that the letter was on his file at Bank of Uganda.

As a result of this dilly dallying, Francis Mwijukye, the Buhweju MP retorted: “Mr Chairman, we need the CID to escort Sekabira to Bank of Uganda, to prove his appointment."

The location of the inventory reports on the closed banks have so far become a source of controversy with Sekabira who was the liquidator of the said banks indicating that he filed the said reports and submitted them to three former BoU officials including Justine Bagyenda, Margaret Matovu and Apollo Obo.

Emmanuel Mutebile, the central bank governor, has since said he has never seen the reports.

Sekabira is one of the eight top Bank of Uganda (BoU) officials that will quizzed as the parliamentary inquiry into the sale of seven banks rolls on.The others are senior bank officials, Timothy Sekirayi, Grace Ndyareeba, Margaret Kasule, Titus Mulindwa, William Kasozi and Justine Bagyenda who appeared before the probe on Wednesday.