The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) Chairperson, Abdu Katuntu has rejected President Yoweri Museveni’s idea of probing Bank of Uganda officials in confidentiality.
COSASE is currently investigating BoU officials regarding the controversial closure of the seven defunct banks.
Katuntu argues that if the probe is held in confidentiality, it would lead to speculations in public.
“It isn’t that we aren’t aware of potential dangers of the [probe to the banking] sector if we become reckless, but I would like to comfort the President that reckless isn’t in our name in this process,” Katuntu said.
Katuntu’s statements are in response to remarks made by Museveni, who said that the public probe into the Central Bank would send wrong messages to people outside Uganda to think Bank of Uganda is battling unsolvable problems, yet this isn’t the case.
“I think the procedure is wrong, because this is Bank of Uganda; if you want to investigate it, why don’t you do it quietly not in camera … I think the inquiry is good, they should inquire, but they are doing it the wrong way. I haven’t had time to speak to the Speaker,” Museveni said.
Museveni made the remarks while commemorating the International Anti-Corruption Day at Kololo Independence Grounds yesterday.
However, Katuntu says unlike fears in public, the probe isn’t aimed at hurting the Central Bank and the banking sector but instead, it will make Bank of Uganda better.
“We owe it to the public, if we lock ourselves in a room, it leads to speculation and remember at the beginning of this process, there was a lot of speculation,” Katuntu said.
