#kantuntu

Katuntu defends COSASE commercial banks probe report Among the alleged glaring omissions from the report is a failure to explicitly name individuals implicated in an intricate web of criminality, flagrant flouting of the law and conflict of interest

In the run-up to last week’s release of the committee on commission’s statutory authorities and state enterprise’s (COSASE) report on the closure of seven banks by Bank of Uganda (BOU), the excitement by lawmakers and Ugandans that had followed the proceedings on live TV coverage was palpable.

However, there seems to have been an anticlimax, with the report being the butt of jokes by a…

"Whatever we did was in accordance with the law" Kasekende speaks out on COSASE report In the report, the lawmakers noted that in several cases, the central bank did not follow the Financial Institutions Act (FIA) and BOU regulations

The central bank has roundly rejected the findings of the parliamentary committee on commissions, statutory authorities and state enterprises (COSASE) that there were irregularities in the way it handled the closure of seven commercial banks.

Last week, the COSASE chairperson, Abdu Katuntu, presented the report on the findings of a three-month probe, indicting Bank of Uganda (BOU) for flaws in…