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BoU officials back to parliament as MPs decide on Bagyenda

Former BoU Director for Supervision Justine Bagyenda will have her fate decided today as Mr Ssekabira and other officials face the MPs again (PML Daily PHOTO)

KAMPALA – The Bank of Uganda top officials return to parliament Thursday morning with the fate of the embattled former Executive Director for Supervision Justine Bagyenda to be decided by the MPs.

Ms Bagyenda, reportedly in neighboring Nairobi, Kenya, has since Friday last week snubbed the Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) that is conducting an inquiry into the conduct of Bank of Uganda and it’s officials in the closure of seven banks, with some ending up in massive controversy.

Ms Bagyenda, a key figure in the central bank’s drastic measures now under review, has been ruled in contempt of parliament by the MPs, after she wrote last week to inform the commitee that she would not be available until December 13, yet she is a key witness in the inquiry.

Committee Chairman Abdu Katuntu gave her up to Thursday to appear or face an arrest warrant. Ms Bagyenda first snubbed the committee on Friday, November 23, when the MPs probing into the closure of seven commercial banks, first learnt she was out of the country.

Ms Bagyenda and Mr Benedict Ssekabira, the director of Financial Markets Development Coordination, are needed before the committee to present evidence of reports on how the value of assets of three closed commercial banks assessed so far, was reduced from Shs117b to Shs98b after the Central Bank took over the liquidation.

Cosase Chairman Abdu Katuntu adjourned proceedings last week, after both Mr Sekabira and Ms Bagyenda failed to present evidence of submission of reports to the Governor Emmanuel Tumusiime Mutebile and appointment letters for Mr. Sekabira as demanded by Committee vice chairperson Ms Anita Among.

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