Juma Kisaame

By George Mangula

The former Bank of Uganda (BoU) Executive Director in charge of supervision and former Dfcu Bank Managing Director Juma were involved in a meeting to see how the latter could dodge appearing before the parliamentary Committee on Commissions Statutory Authorities and State Enterprises (Cosase).

Cosase is probing BoU officials over the controversial sale of seven defunct banks such as Tefee Trust Bank, Greenland Bank, International Credit Bank (ICB), Cooperative Bank, Global Trust Bank, National Bank of Commerce and Crane Bank Limited.

Stories Continues after ad

Bagyenda days ago admitted she telephoned Kisaame when BoU put up Global Bank for sale in July 2014, a disclosure that surprised the MPs on the committee. Bagyenda and Kisaame would later sign an agreement that handed over Global Trust Bank to Dfcu Bank.

On Monday BoU Governor Prof. Emmanuel Tumusiime-Mutebile admitted he also signed an agreement as presented to him to endorse sale of Global Trust Bank.

According to the Auditor General John Muwanga who wrote a special audit report on defunct banks, BoU did not fall the required guidelines in selling off Global Trust Bank. Bagyenda days ago told the MPs that they did not take the minutes of the negotiations leading to sell of Global Trust Bank to Dfcu Bank.