The controversy surrounding the alleged illegal extra printing of currency notes amounting to Shs90bn by Bank of Uganda (BoU) officials has left MPs puzzled, with a section of them (MPs) seeking the intervention of United Kingdom’s Scotland Yard to thoroughly investigate the Central Bank.
Taking to the floor of Parliament Busia Municipality MP, Geoffrey Macho wondered why the Ministry of Finance hasn’t issued Parliament with a statement since news of BoU investigation broke out last week.
Macho said that the Ministry’s reluctance to issue a statement indicates that Government isn’t aware of impact excess currency has on the economy especially causing inflation.
Weighing into the debate, Cecilia Ogwal, the Dokolo Woman MP said that the confusion from Bank of Uganda, Uganda Police and Uganda Media Centre, with the trio giving different statements on the investigation has further thrown the country into information darkness.
“…who is investigating who? The way the matter has reached, we may need to call Scotland Yard. If we had acted earlier on the COSASE report on closure of commercial banks by Bank of Uganda and caused overhaul of BOU, we would have intercepted this issue. We need a more serious investigation that would cause an overhaul at the Central Bank,” Ogwal said.
In response, State Minister for Planning, David Bahati assured the country that Government is in charge of the Central Bank and the country won’t slip into recession.
“This case was reported to Anti Corruption Unit of State House. It’s true there was an issue to do with air cargo and extra cargo on the plane. We don’t see any indication that this incidence is going to affect economy and inflation. I beg we give investigators time. We can give an interim statement next week. We don’t know whether they were bags or currency,” Bahati said.
Ibrahim Ssemujju, the Kira Municipality lawmaker questioned the motive behind Central Bank Governor, Emmanuel Tumusiime-Mutebile (in featured photo) calling on State House for help.
“The statement must not address this issue but integrity of Central Bank; whether people aren’t sleeping on the Bank. The governor calling State House, is he sleeping on the job?” Ssemujju said.
Speaker, Rebecca Kadaga asked MPs to be patient and wait for statement from Government and decide what to do next.
“The minister has promised to have interim statement and if not satisfied, we can invite Scotland Yard,” Kadaga said.
SOURCE: Business Focus
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