From today onwards, Justine Bagyenda, the former Bank of Uganda executive director in charge of bank supervision shall require the permission of Parliament to travel out of the country until the probe on the closure/sale of banks is concluded.
It follows yesterday’s decision by the Committee on Statutory Authorities and State Enterprises (COSASE) to ask her to deposit her two passports with parliament.
Bagyenda appeared before the committee yesterday where she faced a barrage of questions regarding her role as overseer in the sale/closure of some commercial banks.
As they try to get to the bottom of the matter, MPs have not been happy with her conduct particularly when she snubbed the committee twice while out of the country. This forced them to take the harsh decision.
“Mrs Bagyenda, you will be required to deposit both passports with parliament. I decline to use any powers of confinement. Let us have this process go on, she has apologised and in the letter she told us she will be here, and now she is here. We should not go beyond confinement.” Katuntu ruled.
Bagyenda promised to be around until the BOU probe is over.
Her request to have her two aides freed, arrested last week for lying on oath fell on deaf ears.
“Both your driver and bodyguard lied on oath and it is a criminal offence. The matter was forwarded to police for management. However, the substantive issue of bags allegedly containing documents being sneaked out of the bank is still on table for investigation. We don’t set people free, the law will take its course. It is a big lesson to your colleagues not to lie on oath,” Katuntu said.
During the probe, it was pointed out that BoU had greatly devalued some of the assets of the closed banks. When Bagyenda was asked if she had the portfolio per property before devaluing them, she retorted: “You know, I am an old woman that is why I retired. It is a long time and for the past week, my head has been turning around and around.”
The probe resumes today morning.