MUSEVENI PRAISES COSASE OVER BOU PROBE

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President Yoweri Museveni has told his cabinet that he tried to stop Bank of Uganda from closing Crane Bank Limited but they refused adhere to his advice.

Sources say that in the last cabinet meeting, Museveni said that he has left the officials to be probed without protection because he told them not to close Crane Bank but they did not listen to him.

In a cabinet meeting yesterday that was chaired by him, Mr Museveni is reported to have rejected pleas by Finance Minister Matia Kasaija to have the ongoing inquiry in parliament halted. Kasajias request was supported by government Chief Whip, Ruth Nankambirwa.

However, as the debate continued, the president chipped and said I advised those people (BoU) against closing Crane Bank, I even went on to suggest that we carryout a silent investigation and I went ahead to contact Abdu Katuntu who agreed with my suggestion but they refused and so let parliament do its work and let them face music.

President Museveni flatly refused to reign on Cosase so that they (BoU)are not exposed further, BoU claimed that the institution is sensitive and that its exposure will impact on the economy.

When the Bank of Uganda (BoU) sold Crane Bank to Dfcu Bank in January 2017, officials did not expect that they would be probed by parliament and so far, the Governor Prof. Emmanuel Mutebile and his subordinates have been exposed by the Auditor General John Muwanga in his special audit report of BoU on seven defunct banks.

Mr. Muwanga in his report faulted BoU for selling off some of Crane Banks assets and liabilities when they had chance to revive it, most especially that BoU claims it spent Shs478.8 billion on the bank during its takeover. Muwanga in his report says he doesnt understand why BoU spent all that money on CBL and later sold it to DFCU Bank at Shs200 billion.

Sources revealed that Museveni is happy with a fact that Cosase has so far exposed BoU top officials. He noted that BoU officials have been exposed as workers who handle public matters with carelessness since they cant find reports and other documents related to the sale of banks..

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