Truth Served Fresh & Hot

Kadaga Insists on Bank of Uganda Audit as Kasekende Protests Move

Kadaga Tells Auditor General Muwanga to Ignore Kasekende on BoU Audit

0 15

Speaker of Uganda’s parliament, Rebecca Kadaga, has insisted on an audit of the central bank as Bank of Uganda (BoU) deputy Governor Louis Kasekende continues to term the move as prejudicial.

Solicitor General Francis Atoke is backing Kasekende’s defiance of Kadaga’s order to audit BoU.

Atoke wrote to the central bank in a May 2 letter reminding the BoU that it would be prejudicial for an audit to be carried out since the matters necessitating an audit were in court.

Now, Kadaga has written to Auditor General John Muwanga informing him that the reason the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) requested for an audit was because none has ever been conducted on banks that collapsed.

These included: Greenland Bank, International Credit Bank, Cooperative Bank, National Bank of Commerce, Global Trust Bank and Crane Bank.

“The committee therefore requested you on November 28 2017 to establish the status of closed banks through a special audit under the auspices of National Audit Act,” Kadaga reminded Muwanga.

Muwanga had been unsure on how to handle the matter after Kadaga’s deputy, Jacob Oulanyah’s order that  the “motion to investigate Bank of Uganda over its role in the supervision of Financial Institutions has been deferred”.

But Kadaga clarified to Muwanga that the audit he had been ordered to conduct “has nothing to do with Bank of Uganda roles in supervision of Financial Institutions”.

She also reminded Muwanga, Atoke and Kasekende: “I don’t believe that there is any public institution created by the law in Uganda that is not subject to the audit.”

Leave A Reply

Your email address will not be published.

%d bloggers like this: