August 7, 2020
August 7, 2020

We ashamed the country- BOU Deputy Governor Dr. Kasekende Apologizes.



By Andrew Visper

Dr. Louis Kasekende, the Deputy Governor at BoU has on Saturday 15, June apologized  to the General public for the shame that the Central bank has inflicted on the country.

The recent blunders by entrusted bank officials have ridiculed the bank’s integrity and attracted ruthless criticism from financial-industry commentators thus putting Uganda’s economy at stake.

The Deputy Governor who is in Malabo, Equatorial Guinea, for the African Development Bank (AfDB) Annual General Meeting took to social media, where he apologised for the mess.
“We are very sorry for ashaming Bank of Uganda like this,” Dr. Kasekende posted

Dr. Kasekende who has been in the limelight over alleged illicit accumulation of wealth made the remarks following the arrests made at Central Bank as the State House Anti-Corruption Unit.

The exercise was headed by Lt. Col. Edith Nakalema who is investigating Bank of Uganda officials in connection with procurement of classified items.

The Head of the Anti-Corruption Unit at State House Col. Edith Nakalema on Friday June 14 confirmed that a major investigation into the affairs of BoU is underway,

She also revealed that it is actually the top-boss Bank Governor Emmanuel Tumusiime Mutebile who blew the whistle on the culprits.

In a statement, issued Friday June 14, Col. Nakalema also indicated that the investigation initiated by her team was looking into the conduct of a number of senior Central bank officials and those in the customs and Civil Aviation Authority (CAA) in relation to discrepancies in printing and transportation of some billions of Uganda shilling bills  Clocks to 90Billion.

The Police Criminal Investigations Director Grace Akullo is leading the investigation which Col. Nakalema says is pertaining the banks. “procurement and supply chain activities”.

The Central Bank Governor Emmanuel Tumusiime Mutebile also confirmed that the bank is under criminal investigation following a voluntary invitation to the Anti-Corruption Unit at State House.

Prof. Mutebile confirmed he personally requested the Anti-Corruption Unit at State House to investigate an unusual transaction.

This followed a major anomaly which he said was discovered during the verification process of a consignment that the BoU received on 27 April, the Governor said.

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