Justine Bagyenda Apologies to COSASE After Returning for Questioning

The former Bank of Uganda Executive Director in charge of Supervision has today morning reported at Parliament to appear before the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase).

The committee is currently investigating the sale of seven commercial banks.

Bagyenda who had reportedly traveled to the United States for a conference on November 22 was supposed to appear before the committee to answer queries related to the disappearance of key reports relating to the liquidation of seven commercial banks such as Teefe Bank, Greenland Bank, International Credit Bank, Global Trust Bank Uganda, National Bank of Commerce, Cooperative Bank and Crane Bank Limited.

Ms Bagyenda reportedly returned to the country on Sunday.

Bagyenda who appeared remorseful apologized to the committee for the inconveniences she caused by travelling as the committee did its work.

Bagyenda reportedly wrote to the BoU governor Emmanuel Tumusiime Mutebile informing him that she would not attend the COSASE meetings as she had an engagement abroad.

“This is to inform you that I will be out of the country from the evening of November 22 to attend to some engagements which I had confirmed before receipt of your letter Ref Gov.902 dated 19/11/2018 regarding COSASE meeting,” Bagyenda said in her note to BoU governor Mr Emmanuel Mutebile.

However, committee chairperson Abdu Katuntu had said that Bagyenda would be arrested if she failed to attend today’s meeting.

Last week COSASE handed over Ms Bagyeda’s driver and bodyguard to the police after reportedly making contradictory statements.

This was to help in the investigations on the items that were stolen from the Central bank.

The directive to have Juliet Adikolet (bodyguard) Job Turyahebwa (driver), Beatrice Kyambadde and Charles Omoro who manned the security of the Banking Supervision department came after the two were found to have lied about the movements of the items while on oath.