Members of Parliament sitting on the Committee on Commissions, Statutory Authority and State Enterprises (COSASE) have questioned the irregular appointment of the Director for Financial Markets Development Coordination and Bank of Uganda Board Member, Benedict Ssekabira as a liquidator of five defunct banks.
The members were interfacing with BOU officials led by the Governor, Emmanuel Tumusiime Mutebile to respond to quesries raised in the Auditor Generals special report on seven defunct banks.
The legislators were forced to direct Sekabira to produce his appointment letter after he failed to explain the circumstances under which BOU sold assets of closed banks at 93 percent discount to a now defunct offshore company registered in Mauritius.
Ssekabira failed to table documentation defending the sale further prompting the lawmakers to question the process through which he was appointed and the terms of reference for his job.
On appearing before the committee today, Ssekabira presented an appointment letter which was signed by the then Director Supervision, Edward Katimbo Mugwanya but had no terms of reference.
Asked to produce his terms of reference, Ssekabira noted that he could not trace his copy of the second appointment letter that contains the terms of reference, adding that it could be in the bank’s archives.
“I couldn’t trace my appointment letter with terms of reference at home but the documents are on my personal files at Bank of Uganda and we need time to trace the documents,” Ssekabira said.
Ssekabira’s response left members wondering how he could fail to have a copy of his appointment letter and why the said letter would be among documents in the archives yet the process to liquidation of these bank is still on going.
COSASE Chairperson, Abdul Katuntu noted that the committee would not proceed to query Ssekabira until he has produced his appointment letter indicating his terms of reference.
“We want to know the extent of the authority you had and how you used the authority in regard to the assignment given. We require the signed appointment letter before we start business tomorrow, then we will make other necessary directives,” Katuntu ruled.