Bank of Uganda

Kampala: Investigators have invaded Bank of Uganda following allegations that BoU is planning to close its doors for auditors that are scheduled to carryout investigations into the monetary body.

According to a source that spoke on anonymity, a group of 20 auditors from Auditor General’s office stormed BOU office and started asking for book records indicating how the supervising body of banks has been running its offices.

The source revealed that security persons tried to block them from accessing the premises however, lost the vigor after they informed them that they are there for a high profile duty of picking documents related to how the central bank has been running its supervisory department.

The Supervision department has been under the Justine Bagyenda as Executive Director who according to inside sources was being supervised by Deputy Governor, Dr. Louis Kasekende.

Yesterday parliament directed for an independent audit into circumstances on how Crane Bank, National Bank of Commerce, Greenland Bank among others were sold off.

In letter address to Auditor General, John Muwanga copied to Governor BoU, Emmanuel Tumusiime Mutebile, Speaker Rebecca Kadaga asked why Mr. Muwanga has not probed BoU activates.

Kadaga argued that by Ugandan laws, all government entities are subjected to accountability and therefore, BoU must surrender information showing cash in and outflows. This standoff came after Kasekende wrote to Solicitor General asking him to block the inquiry reasing that the investigations were sub judice to the ongoing court case.

 

 

 

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