Kadaga blocks second probe into BoU

The parliamentary committee on Statutory Authorities and State Enterprises (COSASE) will not conduct another probe into the closure of seven commercial banks by Bank of Uganda, the speaker Rebecca Kadaga ruled last week.

Sam Obbo, the Press Secretary to Kadaga said the speaker had informed him that she is going to stop any attempt to re-open the investigation by COSASE.

“The Speaker disagrees with what’s going on and she has said she is going to write officially and stop him [Mubarak Munyagwa]," Obbo told the press.

Obbo said Kadaga deemed another probe into BoU as a duplication of the earlier work done by the Abdu Katuntu led COSASE.

Over the past couple of weeks, COSASE has come under fire after reports emerged that it intended to re-open the investigations into the closure of the banks specifically targeting accountability for Shs 478 billion which the central bank claims it injected into Crane Bank but for which it had not accounted.

Michael Busingye recently petitioned Ms. Kadaga to block COSASE from wasting tax payers’ money in re-investigating finished business.

Sections of MPs last week took on the new Committee of pushing for a fresh probe instead of pushing for the implementation of the existing Cosase report on irregularities in the closure of seven commercial banks.

Some MPs had vowed to block the fresh investigations into BoU and called Kasozi sub-committee “a conduit” designed to “sanitise the culprits” and help BoU officials “sneak accountability documents” to the office of Auditor General.