They Also Want to Eat, Waste Our Taxes – Ugandans Mock New COSASE BoU Probe

COSASE boss Hon. Mubarak Munyagwa (Kawempe South) and his Deputy Hon. Ibrahim Kasozi (Makindye East).

The plot by the new parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) to carry on the Bank of Uganda probe on the closure of the 7 commercial banks has drawn mixed reactions from both politicians and the general public.

According to the random interviews got from different people it is revealed that there is no need to carry on another parallel investigation on the matter that was legitimately closed by the same agency.

“The investigation were done by COSASE, and adopted by the August House, in which capacity is Hon. Mubarak Munyagwa and Hon Ibrahim Kasozi going to carry on their probe? This move is going to cost us as a country a lot of money as a country and also going to tarnish the image of the Parliament of Uganda.” said One Ssejombwe Ibrahim adding that the tendency of some people (especially opposition MPs) wanting to become film stars in everything that happens at Parliament needs to be killed and buried.

Several respondents also noted with concern of doubting the integrity of the new COSASE leadership, describing them as opportunists, corrupt and comedians that just want to get media attention and eat money.

“Now look and Hon. Munyagwa and his team, do they think that its right for Parliament to spend more money, halting other pressing issues in reviewing the central bank sale of banks as if the country has other issues to tackle? Anyway what will those ‘self-righteous’ change? We all know their dirty history, besides Hon. Munyagwa’s corruption saga that left him behind bars last year, even his deputy is not a clean man, Ibrahim Kasozi was for long time been spying for Uganda’s most wanted renegade cardiologist Dr Aggrey Kiyingi who is wanted on charges of terrorism, murder and financing subversive activities against the legitimate government of Uganda. He (Kasozi) is said to have broken ties with Kiyingi recently after conning him 200,000 USD promising him to bankroll recruitment of rebels across the country  to help in overthrowing president Museveni, so hearing such comedians and selfish driven individuals making noise over something that was legitimately climaxed, I even wonder why Ugandans should continue being fooled every day.” Our source revealed adding that Kasozi used the money and injected it in Makindye East and successfully trounced Dr Ian Clarke and NRM’s Hon. John Simbwa.

It should be noted that the former chairperson of the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase), Abdu Katuntu continues to defend the central bank probe report that his team compiled following investigations into the closure and subsequent sale of Teefe Trust bank, International Credit bank, Greenland bank, Uganda Cooperative bank, National Bank of Commerce, Global Trust bank and Crane bank between 1993 and 2016. 

COSASE came under criticism from fellow legislators and the public on grounds that despite unmasking several irregularities, their report falls short of naming the implicated central bank officials and instead offers blanket recommendations. Some legislators have even gone as far as recommending for the investigation of Cosase itself on allegations that they could have been compromised by the implicated. 
But Katuntu says they were hampered by limited time, absence of minutes from Bank of Uganda and an attempt by President Museveni to block the investigations. 

Speaking shortly after debate on the report, Katuntu said they had no basis for naming the implicated officials since the central bank failed to avail them minutes that led to the closure of the affected banks.

“We had that very debate, do we name or not name? We had it. Some of the members of the committee were very strong on it that we name. Rt Hon speaker, as you read this report and colleagues, you realize that there were no minutes. During the proceedings we asked who attended these meetings, and the answers we were getting was they did not know who attended the meetings. How do you name people when they said they were no minutes, were they sincere? I don’t think so.” he said. 

Katuntu also said the committee had no intentions of shielding any officer, saying they were only able to identify Justine Bagyenda, the former executive director supervision Bank of Uganda, director financial markets development coordination, Benedict Sekabira.
Katuntu also clarified that his report isn’t a judgment but rather findings from the facts presented to the probe. He told parliament that his committee did its best under difficult circumstances, saying that they had to review thousands of documents in four days. Katuntu said his committee did a fine job and has set a precedent.

To Top