Governor Bank of Uganda asks for more time to react to Shs20b demand by Cooperative Bank client

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A meeting of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), which is probing how some of the clients of the defunct Cooperative Bank were deprived of their savings and properties during the closure of the bank by Bank of Uganda (BoU), flopped on Thursday after the governor, Mr Emmanuel Tumusiime Mutebile, who was expected before MPs, asked for more time.

COSASE chaired by Mr Mubarak Munyagwa (Kawempe South) is probing how BoU officials mismanaged the liquidation of Cooperative Bank in May 1999 and inflicted losses to some of the clients who had deposits, shares and mortgages with the bank.

One of the victims, Mr Chris Tushabe Karobwa petitioned Parliament with demands of payment of Shs20 billion from the Central Bank.

On August 29, Mr Mutebile who was made to testify on oath, asked for two weeks to be able to compile information in defense of the Central Bank concerning Mr Karobwa’s claims on his properties and money that he wants refunded.

But the Thursday meeting did not take place after the governor failed to show up. Daily Monitor learnt that Mr Mutebile on Wednesday wrote to the Committee Chairperson seeking extra time to prepare his presantation.

“We request that the meeting be rescheduled to September 17, 2019 in order to allow us to gather more information required by the Committee,” Mr Mutebile’s letter seen by Daily Monitor, reads in part.

Daily Monitor

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