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Bagyenda evades Cosase queries, leaves MPs furious

PROBE | Justine Bagyenda did turn up before a parliamentary committee probing closure of seven commercial banks after all. But her presence was hardly rewarding to the committee in terms of minting information it was seeking.

If any, the former Executive Director in charge of Supervision at Bank of Uganda instead riled some MPs on the committee when she put up evasive acts to questions thrown at her.

Bagyenda has said she resigned from the central bank so the MPs on the committee could as well seek answers about the closure of the seven banks from the current team.

She cited the fact that she isn’t in possession of documentations regarding the matter yet the committee requires evidence-based answers to its queries.

Cosase vice chair Anita Among demanded answers on why decision was reached to sell the loans of International Credit Bank, Greenland Bank and Cooperative Bank at only Shs8 billion yet they were valued at around Shs135 billion.

Among the committee were not particularly prepared for Bagyenda’s response as she packaged it in a rude crucible.

“Through my recollection, I stated that I retired from the services of the central bank and, therefore, I don’t have any documentation in my custody to allow me to answer all these questions because this committee is evidence based. All I can say is that all questions that have been asked are really well documented in the files that I left behind in the bank.”

The legislators were riled. With Odonga Otto present, Bagyenda should have chosen her words carefully since some MPs have no patience with those they are probing.

The committee, Otto warned, must warn those appearing before it against choosing the questions to answer.

“We need to harden here, the big fish is in the house, these are people who cause problems to the young people,” Otto fired back

Committee chairperson, Abdu Katuntu told off Bagyenda that there was no use being evasive and asked her to sit with the current Bank of Uganda team to provide responses to the Committee.

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