BoU Probe: Munyagwa, Kasibante Count Losses as Parliament Extends Tenure of COSASE’s Katuntu, Among

MPs Mubarak Munyagwa (Kawempe South) and Moses Kasibante (Rubaga North) may have to wait a little longer to chair the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) after outgoing chair, Abdu Katuntu (Bugweri County)requested for more time to complete the ongoing Bank of Uganda probe over closure of 7 defunct banks.

On Thursday, Katuntu while chairing COSASE meeting revealed that their tenure is expiring on January 13 and that their probe on BoU will still be ongoing. Katuntu said that the committee has written to the Speaker of Parliament, Rebecca Kadaga requesting for extension of more time to complete the probe before he can hand over to Munyangwa, the new COSASE chairperson.

Katuntu said that it is now the prerogative of political parties especially the Opposition (FDC) to give them more time in consultation with the Speaker.

“The term of this Committee lapses on 13th January, this was brought to the attention of leadership of parliament and it is consulting the political parties to see there is an amicable way of ending of ending this process as smoothly as possible. Meanwhile we will continue proceeding until 13th January,” Katuntu said.

During plenary sitting, Kadaga indeed confirmed the request for tenure extension from COSASE’s Katuntu and that after consultations with Leader of Opposition (LOP) Betty Aol, the tenure of the committee has been extended to February 20, 2019.

It is now over a month since COSASE started investigating BoU officials led by Governor Emmanuel Mutebile over closure of 7 defunct bank including Sudhir Ruparelia’s Crane Bank that was closed in 2016.

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