Katuntu: Fights between Mutebile, Kasekende factions causing crisis at BoU

The MP for Bugweri County Abdu Katuntu who spearheaded the investigations into the closure of the defunct seven commercial banks has disclosed to parliament that the statement at Bank of Uganda is as a result of a succession battle for the top position.

Katuntu told legislators in a parliamentary sitting chaired by Speaker Rebecca Kadaga that currently there are two factions at the central bank one led by the governor Emanuel Mutebile and another by his deputy Dr Louis Kasekende.

Katuntu made the statements after the state Minister for economic planning David Bahati had presented  a  statement on the ongoing currency saga at Bank of Uganda.

Bahati informed the House that its true the Bank of Uganda officials who had gone at Entebbe International Airport to receive the printed money, noticed more 5 additional cargo pallets in addition to the 20 known pallets

Katuntu warned of the repercussions if this fight amongst the factions is not stopped.

"It may lead to the collapse of the central bank if issues of governance are not hurriedly handled," he said.

As chair of COSASE, Katuntu led the investigation into the closure of seven commercial banks by the central bank.

His committee made several recommendations aimed at improving the performance of the bank but they are yet to be implemented.

Katuntu also  questioned why the United Nations has failed to respond to claims that it had some cargo on the chartered plane in question.

Kadaga gave government up to July 15 to produce a preliminary report into the saga.