Parliament Orders BOU to Avail Greenland Bank Documents Handed Over by Bagyenda

The Parliament committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed Bank of Uganda’s (BOU) Executive Director Bank Supervision, Twinemanzi Tumubweine to submit all the documents that were handed over to him by his predecessor, Justine Bagyenda on the management of Greenland Bank.

This was after the committee scrutinized the reports that were availed by the Bank of Uganda officials on Wednesday which were found to lack the required details including the assets of Greenland bank.

The committee’s ruling followed submissions by the former BOU Director for Bank Supervision, Justine Bagyenda and Margret Matovu the former Director Commercial Banking. These told the committee that the relevant reports were handed over to current office bearers upon their exit from offices.

“I received the said reports from Ssekabira who was the representative of the bank in the liquidation process and they were some of the documents I left behind with the bank. This was clearly stipulated in my handover report,” Bagyenda said.

However, the current Director for Supervision, Twinemanzi Tumubweine denied having received the reports from Bagyenda during handover as she had claimed. Tumubweine would later present to the committee a copy of the hand over report that was handed to him upon assuming office.

This prompted the COSASE chairperson, MP Abdul Katuntu to order the team from BOU to produce all documents on Greenland bank before he adjourned the hearing.

“This matter has reached a point where we need to find out if reports are there or not, or whether they are being withheld. Using the powers vested upon this committee by both the rules and the Constitution, I direct the ED Bank Supervison, Twinemanzi to produce all the files that were handed over by the then ED Bank Supervision Bagyenda,” Katuntu ruled.

Earlier, a number of legislators including Kalungu West MP, Joseph Ssewungu had suggested that Bagyenda and the conflicting BOU officials be handed over to the CID for further interrogation on the required information by the committee.