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Man in the spotlight: BoU senior official Sekabira to face MPs

BoU Director Financial Markets Development Coordination (FMDC), Mr Benedict Sekabira, is set to appear before COSASE come Thursday November 15 (FILE PHOTO)

KAMPALA – Mr Benedict Sekabira, the Director Financial Markets Development Coordination (FMDC) is one of the top Bank of Uganda officials that will face the wrath of MPs on the Parliamentary committee on Commissions, Statutory Authorities and State Enterprises as the Banks probe resumes on Thursday.

Eight top Bank of Uganda (BoU) officials including Dr. Kasekende face the spotlight as the parliamentary inquiry into the sale of seven banks including the Shs 200 billion giveaway of Crane Bank to dfcu Bank winds up week three.

The others are senior bank officials, Timothy Sekirayi, Grace Ndyareeba, Margaret Kasule, Titus Mulindwa, William Kasozi and Justine Bagyenda who has since retired from the central bank under a cloud.

The eight, will according to sources that have scrutinised the documents submitted by the central bank to the MPs last week had a big hand in the issues surrounding the sale of the banks.

 

BoU top official Sekabira, laughs his way out of the bank inquiry in Parliament on Monday. He will be questioned on Thursday (PML Daily PHOTO)

It is understood that the MPs will also question NSSF Managing Director Mr Richard Byarugaba, whose hand has been cited into the closure of Global Trust Bank and Mr Juma Kisaame, the deposed dfcu Bank Managing Director, who has been in the spotlight following the controversial takeover of Crane Bank, which he presided.

The MP’s inquiry is also focusing on the mismanagement of closed banks by BoU after the Auditor General Mr John Muwanga issued a stinging criticism of the central bank in a special audit that cited massive flaws in the closure of Teefe Bank (1993), International Credit Bank Ltd (1998), Greenland Bank (1999), The Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and the sale of Crane Bank Ltd (CBL) to dfcu (2016). All the former directors of the above-closed banks will also be cross-examined by the committee.

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