Former Director of Supervision for Commercial banks at Bank of Uganda, Ms Justine Bagyenda has been forced by the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) to produce all files detailing the sale of Greenland Bank.
This after members became angry following counter-accusations amongst BOU officials particularly, Ms Bagyenda and her successor Tumubwiine Twinemanzi, on the said files.
Committee chair Hon. Abdu Katuntu had to resort to evoking the powers of the constitution and the committee to compel Ms. Bagyenda to deliver them or face arrest.
‘I need to evoke the powers of the constitution and our rules,Iam therefore directing the executive director Bank of Uganda to produce all the files that were handed over by the then director of bank supervision Ms. Justine Bagyenda to the now in charge of Bank supervision..’Katuntu directed.
Earlier Ms Bagyenda had wanted to give a chronology of events but the committee demanded for the progressive reports.
‘To my recollection, there were progressive reports , which were made to the board….Bagyenda said before she was interrupted by Hon.Katuntu.
‘No!, Ms Bagyenda, let us not play ping pong…there is an officer at the closed banks and by his terms of reference he is supposed to be making progressive reports …..the board comes at the end of the process, we want a nexus;a link between Mr, Ssekabira and the bank before you take us to the board ,so can we have those reports?’.
‘The reports were submitted by Mr. sekabira to the office of the director through the head of division, these reports would be summarized and reported to governor’s office….’Bagyenda remarked before she was again interrupted by the committee.
'…let me tell you, I think we have a problem here, we don’t want accusations here, it will not help us go forward.
Bagyenda,finally said she does not have the reports since she is no longer in the Bank. Her successor,Mr.Tumubweine Twine, also said he did not have the reports before he went ahead to table documents that were handed to him, that were exclusive of the reports.
Ms Margaret Matovu ,former director of commercial banking department was also put on the spot over the reports.In her submission she noted that they could be at the central bank adding that she received some.
‘I said the reports might be in the bank.’ She said.
‘Might’ Where else could they be? ’the committee asked?
‘I did not have that report of handover but most of the reports were on file when I left the bank’. Matovu responded.
The meeting has been adjourned to 9 AM tomorrow.