Government has assured the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) and Parliament that all recommendations made in the Bank of Uganda probe report will be implemented without any compromise.
The report, following an investigation into the closure of seven commercial banks, pins several central bank officials for committing a number of irregularities while going about the closing the said institutions.
It was released last Thursday.
The report recommends stringent measures to restore the dignity of the central bank, compensate shareholders of defunct banks their legitimate claims and also demanded action be taken on errant officials of BoU and their associates.
During the report’s second deliberations by Parliament on Wednesday, Abdu Katuntu the former Cosase chairperson told the House that any government official who excises impunity while on duty must be dealt with as they endorsed.
“It’s unfortunate that the government has to foot the compensation. However, we have recommended that central bank officials be held individually responsible. But also we don’t know the government’s take on this matter,” said the Bugweri County Member of Parliament.
His statement forced the Speaker to call the leader of government business, Prime Minister Ruhakana Rugunda to tell the members and the public, the government’s stand regarding implementing the requests in the report.
Hon. Rugunda said, “The government of Uganda is strongly in support of Parliament’s work and in this case the work done by Cosase. We have given an assurance that all recommendations of the committee if adopted by Parliament, shall be taken up,”
However, Leader of Opposition Betty Aol Ocan cautioned him against always making empty promises before the floor of Parliament, hence making them look incompetent in their work.
“My greatest worry is that we have previously passed resolutions, but the President who is in charge of putting them into action has failed us and the country at large,” Aol said.
Mohammed Muwanga Kivumbi, Butambala MP said if the report is to be passed, government should compensate whoever lost anything in this saga.
“If there is any payment to be made by the government, then it should not be selective but rather involve all the affected banks,” said Kivumbi
Kasese woman MP Winnie Kiiza proposed that the board of Bank of Uganda should not be a political appointment since the President said he advised them and tried to save the defunct banks but they did not hear him.
Debate on report is expected to resume on Thursday at 2:00 pm.
Do you have a story in your community or an opinion to share with us: Click the link to Submit a Post or email us at email@example.com