The on-going probe of Bank of Uganda by the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises has created camps within the institution as officials accuse each other of not doing their work as well financially gaining from the liquidation and sale of assets of seven defunct banks.
BoU inside sources say the Governor Prof. Emmanuel Tumusiime-Mutebile, Dr. Dr. Tumubweine Twinemanzi, the new Executive Director in charge of Supervision, Milton Opio Orech (Director Security) and a few others are on one side while Benedict Sekabira (Director, Financial Markets Development Coordination), Margaret Kasule (Director Legal Affairs) and Dr. Louis Kasekende (Deputy Governor) and a few others are on the other side.
Meanwhile insiders say that Dr. Kasekende is reportedly praying that former Executive Director Supervision Ms Justine Bagyenda does not fall into trouble. This because Kasekende and Bagyenda used work closely together in the liquidation of some of the banks such as Crane Bank Limited (CBL) and Global Trust Bank Uganda (GTBU).
Bagyenda has been accused of stealing BoU documents and has been given until Thursday this week to produce them. Cosase is not happy with the way BoU keeps its documents to the extent that even the Governor, Tumusiime-Mutebile doesn’t not remember whether he received some documents or not.
Insiders say Kasekende, Sekabira and Ms Kasule who are Baganda are not happy that Dr. Twinemanzi, a Mukiga like Tumusiime-Mutebile availed some of the hidden documents to Cosase. The documents have exposed Sekabira and Kasule as being unserious in their work. Yesterday BoU could not avail documents for GTBU.
Sekabira, Kasule and Kasekende are unhappy that Twinemanzi who only joined BoU in February this year is cooperating with Cosase by bring out some of the documents that the three officials were not willing that they be shared with the MPs. Some appear to be forged and with no signatures. All in all Twinemanzi, insiders at BoU say, he is doing all that to save his boss Tumusiime-Mutebile, a fellow Mukiga.
Insiders say Twinemanzi who was recruited from Uganda Communications Commission (UCC) is doing his best to expose Sekabira, Kasekende and Bagyenda after all he came in when the banks were sold long ago and yet the three banks did not give Tumusiime-Mutebile all the information. That is why the Governor had to sack Bagyenda before her official retirement.
Cosase is not happy that officials who are the best paid in the country cannot coordinate their work and cannot keep public documents. Insiders at BoU says Ms Kasule, the legal counsel is keeping documents to frustrate MPs’ work but also save Sekabira and Kasekende.
Remember that when parliament ordered the Auditor General John Muwanga to audit BoU over the controversial liquidation of the seven banks, Kasekende became restless, trying all means to block Mr. Muwanga from doing his job. Although Kasekende at that time said Muwanga’s probe would infringe on the subjudice rule since related cases were in court, he had hidden motives that he didn’t want Tumusiime-Mutebile to know about and it is the reason why BoU officials did not avail all documents to Mr. Muwanga for examination.