Parliament Wrong to Conduct Bank of Uganda Probe Openly – President Museveni

President Yoweri Museveni has expressed concern over the manner in which the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) is conducting the probe into the country’s Central Bank.

The committee chaired by Bugweri County MP has been conducting a probe into the closure of several banks in the country openly, something the president is not happy about.

Although Mr Museveni says the probe is good and should happen, he does not agree with the procedure whereby the public is able to see whatever is being investigated.

The president wants the committee to conduct the probe quietly adding that the public should only see actions against culprits. He argues that the manner in which the probe is being conducted creates unnecessary tension among members of the public.

“I think the procedure is wrong. Because, this is Bank of Uganda. If you want to investigate it, why don’t you do it quietly? Why don’t you do it in-camera?” the President said. “I think the inquiry is good but they are doing it the wrong way. I have not had time to speak to the Speaker but I think they are doing it wrongly”.

He said that he has personally had issues with Bank of Uganda, adding that whatever they discussed was confidential. Museveni said the Central Bank “has done a good job” by controlling inflation over the years and that the few wrong elements who could have infiltrated it will be dealt with.

“We shall get the facts. There isn’t much to worry about. But the method should be confidentiality, get the facts and then we act,” he said. “Because somebody who may not know may get worried thinking there is a problem in Uganda yet in fact there is no unsolvable problem”.

The president was responding to a question at a brief interaction with journalists ahead of the commemoration of the international day of corruption at Kololo Ceremonial Grounds on Monday.