Bagyenda to Cosase, “I return in December”

By :
AT Team

Former Director of Supervision for Commercial banks at Bank of Uganda, Ms Justine Bagyenda will not appear before the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) on Tuesday as had been expected.

Ms Bagyenda was on November 23 supposed to appear before the MPs probing into closure of seven commercial banks, but she did not show up saying she had travelled abroad.

Upon receipt of the letter indicating her trip, the MPs were evidently furious, prompting Cosase chairperson, Mr Abdu Katuntu to issue fresh summons requiring her to appear on Tuesday (November 27) without fail or face arrest.

However, Ms Bagyenda in a letter to Mr Katuntu, says she won’t be able to appear before the committee today because she’s still out of the county on a personal business trip until December 13.

“Hon. Sir, the current engagement (which is an international summit) I am on was planned long before the Governor’s communication and it is core to my private life. On account of my said engagement and the fact that my air ticket is restricted, I strongly regret my inability to appear before the COSASE on Tuesday November 27, 2018,” Bagyenda said.

Adding that, her scheduled date of return is December 13, 2018 and that she was working with the airline to get a quick alternative using her restricted ticket.”

According to Bagyenda, she says that she didn’t indicate her return date in the first letter because of her personal security concerns.

“With regard to the fact that I did not state in my letter the date of my return, kindly note that I did it on purpose because of security reasons and the relevant security agencies are aware of my security concerns,” Ms Bagyenda added.

Ms Bagyenda and Ms Matovu told the ongoing parliamentary inquiry into the closure of commercial banks that progressive reports on the liquidation of Cooperative Bank, International Credit Bank and Greenland Bank were submitted to the Governor. However, Mr Tumusiime-Mutebile insisted that no such reports were submitted to him.

Ms Bagyenda who is also wanted to explain the sale of Crane Bank to dfcu at Shs200b told Cosase that the missing progressive reports on Greenland Bank were given to the board. The committee however rejected her explanation and demanded for hard copies of the reports she received from Mr Benedict Ssekabira.

The unavailability of the progressive reports has become a source of contention because they give details into how BoU downgraded assets of the three banks from Shs117b when they were closed in the 1990s to Shs19b when the central bank did a final Statement of Affairs on the defunct banks in June 2016.

Although the Governor had initially told MPs that he did not recall receiving progressive reports, on Friday he submitted some documents suspected to be progressive reports. Mr Katuntu, Cosase Chairperson is expected to brief the committee tomorrow.

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