THE STATE OF UGANDA’S CENTRAL BANK
The Forum for Democratic Change FDC welcomes the report of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) into the closure of the seven Commercial banks.
Although produced by members of Parliament whose tenure had expired, the report is another testimony towards institutional lust, capture, mismanagement and incompetence which has come to characterize the Museveni regime.
The COSASE report points out looting of assets of closed Banks by Bank of Uganda officials. Yes, the banks may have been mismanaged as indeed some were, but this didn’t warrant looting of their assets and those of shareholders.
On page 22, the report observes the Bank of Uganda took over assets of closed Banks namely ICB, Greenland, Cooperative, GTB and NBC worthShs164 billion but sold them at 32 billion representing about 93% DISCOUNT.
Mind you this is the Bank responsible for issuance of currency, regulation of money supply, supervision and regulation of financial institutions, management of Uganda’s foreign reserve, management of Uganda’s external debt and advisor to the Government of financial and economic issues.
How can the Country continue to trust the individuals at Bank of Uganda to continue managing and running her economy with all these gross malpractice revealed in the Report?
We are surprised the report did not demand for immediate resignation of Bank of Uganda Governor Mr. Emmanuel Tumusiime Mutebire, his Deputy Louis Kasekende and the various executive directors responsible for this mess.
The President is supposed to fire the Governor under Article 161 of the constitution but he is as incompetent as the person he is supposed to fire. Mutebile, Museveni, and Prime Minister Dr. Ruhakana Rugunda all worked as Political Intelligence Officers of Milton Obote in late 60s.
Our demand as a Party is that Mutebile, Kasekende and the executive directors of Bank of Uganda should be relieved of their duties. This country is not short of highly qualified people.
We have always warned the country that the fellows at Bank of Uganda even print money to finance Museveni politics and Campaigns. It is the reason Museveni is almost distributing new notes everyday as if they are printed in his bedroom
Moreover this is the Governor who in 2011, accompanied Museveni into our foreign reserve where he withdrew over $700 million to buy fighter jets that has only been used to defend South Sudan President Salva Kiir.
The FDC is uncomfortable with the recommendations to compensate crane Bank proprietor Sudhir Ruparelia as a committee commends on page 32 of its report. The committee faults Bank of Uganda for handing over non-performing loans (Bad loans) worth Shs 570 billion yet Sudhir provisioned for the same.
We didn’t intend to address you on this subject because we covered it adequately in our last week’s press briefing. However developments since our briefing have made it necessary for us to revisit the matter.
First, we were shocked by the comments our college the DP President Norbert Mao made about some of our ministers especially Hon. Betty Nambooze and Hon. Allan Ssewanyana.
Calling people who have sacrificed for this country watermelon was most unfortunate as was calling Norbert Mao pumpkin. In our view, the person who benefits from our quarrels is Yoweri Museveni.
Before constituting the People’s Government, the People’s President consulted all our colleagues including the DP President.
The FDC fully understands the desire by each political platform/party to strengthen itself but also believes strongly in working jointly to overcome the dictatorship that is holding us captive in our country.
That is why Hon. Nambooze and Hon Ssewanyana are not appointed to serve in the FDC. They like Lord Mayor and others are willing to and have always been, to serve a liberation platform which the People’s Government is.
We would like to invite all democratic seeking forces to join or support the people’s Government. We are also ready and willing to render support to any platform formed to supplement the citizens’ effort to free themselves.
IMPUNITY OF GOVERNMENT OFFICIALS
The FDC is concerned with increasing impunity now publically being exhibited by senior government officials. These officials are to make matters worse, guarded by the UPDF soldiers.
Two incidents involving Maj. Gen. Matayo Kyaligonza, Uganda’s ambassador to Burundi and NRM Vice chairman for Western Uganda and Deputy Attorney General Mwesigwa Rukutana illustrate this growth.
‘His Excellency’ Matayo Kyaligonza together with his guards roughed up a traffic police woman on duty in Seeta area on Sunday. Maj. Gen. Kasirye Gwanga a senior presidential advisor has committed similar crimes.
And last week, Minister Rukutana, a senior legal advisor to government was involved in a verbal exchange with Justice Catherine Bamugemereire who heads a probe into land matters. Different Residents Commissioners have been reported caning students, teachers and other citizens up-country. An NRM district chairman of Lwengo was also recoded caning residents in his area.
It has become increasingly difficult for citizens to obey rules when those responsible for their enforcement are flouting them right and left. We now leave in a lawlessness society.
Bodyguards of the President can invade Parliament during broad day light and instead of receiving punishment, they are promoted. The same body guards can butcher citizens and MPs during a bye-election in Arua and the victims of their attack like Hon. Francis Zaake are arrested.
Zaake was born on January 1st 1991, five years into Museveni’s government. The Jajja is now fighting with grandchildren over milk. Museveni should be ashamed.
Hon. Ibrahim Ssemujju Nganda
FEB 25TH 2019