Cabinet Debates Bank of Uganda Probe

Cabinet on Monday debated the current Parliament investigation into Bank of Uganda sale of commercial banks.

According to sources who attended the closed door weekly meeting at State House Entebbe, the matter was the first to be debated though it was not on the agenda of the day.

It was reportedly introduced at the beginning of the meeting by the Finance Minister, Matia Kasaija and seconded by the Government Chief Whip, Mrs. Ruth Nankabirwa.

Some ministers wanted an uncharacteristic step to be taken by the Executive to stop the legislative arm of government from undertaking its constitutional mandate of investigating government agencies.

“Honorable Kasaija briefed us on the development surrounding the COSASE probe,” said a source who asked not to be named.

Museveni reportedly disagreed with ministers pushing for the stopping of the probe by Parliament’s committee on Commission, Statutory Authority and State Enterprises into the audit queries raised by Auditor General on the closure and subsequent sale of 7 commercial banks by the Central Bank.

When contacted, the Government Chief Whip acknowledged that the matter was debated but denied introducing or supporting the move.

“I started with lunch (at State House) and joined the meeting when the debate was already going on. It’s true it was debated but it wasn’t Nankabirwa who introduced it,” said Nankabirwa.


She added: “I don’t need Cabinet to influence or get something at Parliament.”

ChimpReports understands the meeting resolved that COSASE should continue with its investigations.

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