COSASE PROBE: Bagyenda on the chopping board

The parliamentary probe into the sale/closure of banks resumes today with Justine Bagyenda, the former BoU executive director in charge of supervision expected to answer a number of queries.

Bagyenda's behaviour since she appeared before the probe a couple of weeks ago has rattled MPs and raised more questions about her involvement in the messy affairs of the closed banks.

For instance, she flew out of the country without giving the MPs due notice and later it was revealed that she had moved out key documents pertaining to the sale of banks from her office in March on a Sunday.

This level of impunity and arrogance has left MPs on the committee fuming, some calling for her head.

Abdu Katuntu, the chairperson of the Committee on Statutory Authorities and State Enterprises (COSASE) which is carrying out the probe, gave Bagyenda up to today to appear or be issued with an arrest warrant.

She is currently being quizzed having jetted into the country over the weekend.

Bagyenda and Benedict Ssekabira, the director of Financial Markets Development Coordination, are particularly needed before the committee to present evidence of reports on how the value of assets of three closed commercial banks assessed so far, was reduced from Shs117b to Shs98b after the Central Bank took over the liquidation.

She will have some explanation to do.