Parliament has given Bank of Uganda officials up to Monday to avail procedures, manuals and the list of the then board members who presided over meeting about all defunct banks starting from Teefe bank in 1993 to Crane bank in 2016.
Appearing before parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) chaired by Bugweri County MP Abdu Katuntu, officials were tasked to produces Inventory report, customer deposits, loan schedules and other supporting documents before and after the closer and sell of these banks.
Katuntu said, the process is aimed at seeing that in case any other bank is to close in the future, the processes are handled better and with accordance to the law.
“This process is therefore, equally good for the past and future. The committee is going to consider all the banks in order of how they were closed, from Teefe bank in 1993 to Crane bank in 2016, “I see a lot of misconception that this is about one specific bank,” He said.
Alluding to page five of the Auditor General’s report, Kasilo County Member of Parliament, Elijah Okupa implored BoU officials to provide reports from bank supervision departments for at least two years before the closer of these banks.
Citing page 12 of the Auditor General’s report, Okupa said, BoU should also produce an Interim order that restrained the supervision body of banks leading to the closer of National Bank of commerce (NBC).
COSASE Vice Chairperson and Woman Member of Parliament for Bukedea District Anita Among, said officials should also come along with the minutes of all previous meetings under the subject to matter for closer and selling of the banks.
Governor of the Bank of Uganda, Emmanuel Tumusiime Mutebile, said they have all the alluded copies answering all the queries raised by committee members and asked for two working days to table them before committee which was accorded to them.
Katikamu County North MP, Eng. Abraham Byandala asked for some days for committee Members to go through BoU documents saying if bank officials asked for two days to photocopying materials, then we need more days.
The committee resolved to meet on November 12, to scrutinize and verify them as per the allegations fraud and acquisition, closer and selling of the defunct banks.