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COSASE is to probe BOU governor Emmanuel Mutebile, his deputy Louis Kasekende and BoU board following the Auditor General report on BoU on the sale of about 7 banks including Crane Bank. Courtesy Photo

Bank of Uganda Probe Pushed to Thursday

The probe follows a 28th November 2017 letter from COSASE requesting the Auditor General to undertake a special audit on the closure of all commercial banks by the Central Bank.
posted onOctober 31, 2018
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By Max Patrick Ocaido

PARLIAMENT. The Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has pushed the Bank of Uganda (BoU) probe to Thursday.

Last Tuesday, COSASE, a public accounts committee agreed to start probing BoU bosses on Wednesday (today), but according to sources, the probe has been pushed to Thursday (tomorrow).

COSASE is to probe BOU governor Emmanuel Mutebile, his deputy Louis Kasekende and BoU board following the Auditor General report on BoU on the sale of about 7 banks including Crane Bank.

The probe follows a 28th November 2017 letter from COSASE requesting the Auditor General to undertake a special audit on the closure of all commercial banks by the Central Bank.

The confidential report from the Auditor General, John Muwanga was made public in August 2018 highlighting queries into how the Central Bank handled the closure of the seven Banks, a probe that was sparked off by the controversial closure of Crane Bank Limited which was taken over by Bank of Uganda on 20th October 2016, citing under capitalization and was later taken over by DFCU Bank.

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