Former COSASE chairman, Abdu Katuntu.
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Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) has been shown green lights to continue with the probe into the sale of seven defunct commercial banks by bank of Uganda.

The committee’s tenure ended on January 13, 2019 after serving for two and half years as it is stipulated by parliamentary rules of procedures.

In the recent reshuffles, Forum for Democratic Change (FDC) dropped Bugweri County MP Abdu Katuntu and his vice Bukedea woman legislator, Anita Among who have been at the helm of the committee and appointed Kawempe South legislator, Mubarak Munyagwa to superintend all the activities.

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Upon the appointment of new committee members, the opposition MPs have been at a standoff with the Speaker of Parliament Rebecca Kadaga after she approved for the committee’s continuation.

In December last year the Speaker of requested the Leader of Opposition (LoP), Betty Aol Ochan asking her to extend committee’s term to conclude the probe however, Ochan declined on grounds that the move contravenes the parliamentary rules of procedure

According to a statement released by the clerk of Parliament, Jane Kibirige, the August house designated members to various committees but said COSESE should commence its activities after it has reported to the house on the investigation into the sale of seven banks and It is expected to complete and submit its report before February 22.

In December, Munyagwa alleged that the Speaker is trying to cover up something in the committee and Bank of Uganda threatening to expose every wrong doing.

“Is that the first investigation by the committee on bank of Uganda, where is the report compiled about the 350 pens that were bought at a cost of $100 each by the BoU as the country celebrated 50 years?,” He said.