Drama as MPs fume over BoU's failure to produce vital files

MPs on the Parliamentary Committee on Statutory Authorities and State Enterprises (COSASE) today morning expressed their dismay over the failure of officials from Bank of Uganda to turn in vital documents in the closure/sale of some of the banks.

Abdu Katuntu, the chairperson of the committee was compelled to direct the bank to produce 11 files pertaining to the closure of Greenland Bank before close of business today.

Trouble started when Justine Bagyenda, the former executive director Bank of Uganda in charge of supervision engaged in a shouting match with the MPs.

Bagyenda insisted that the reports had been handed over but the MPs disagreed.

"They are there," she said to which Katuntu replied: "Where are they?"

At times, the proceedings turned chaotic as MPs raised their voices each wanting to take part in the action.

"I am compelling the director in charge of  bank supervision to produce all the files that where handed over by Justine Bagyenda this afternoon. The files being requested for are in regards to Greenland Bank. Afterwards we shall use this case to see whether what happened with cooperative bank and ICB was the same," Katuntu said.

Earlier Benedict Sekabira, the director of liquidation at BoU presented an appointment letter for liquidation of Greenland bank as had been requested by the MPs.

However they also asked him to produce letters authorising him to oversee the liquidation of ICB and Cooperative Bank.

Katuntu adjourned the session to tomorrow 10.30 am.