Panic, pressure and misery pile on Kasekende as MPs call for exit

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BoU deputy governor Louis Kasekende

By Kagenyi Lukka

Two significant news items with the name Louis Kasekende were reported about parliament yesterday and I will discuss them going forward.

First, Members of parliament on the rejuvenated Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) had a preparation session on how they will proceed with the probe into defunct commercial banks following the auditor general’s report of 27th August 2018.

At the end of the meeting, the committee agreed to summon Bank of Uganda officials including the beleaguered deputy governor, Louis Kasekende to respond to wide-ranging wrongdoings unearthed by the Auditor General at the central bank.

The BoU team will appear for quizzing on 31st October 2018.

Committee chair, Abdu Katuntu told journalists that, “We will use the Auditor General’s report in relation to the defunct banks and how they were managed by Bank of Uganda. We will have officials from the board of Bank of Uganda to respond to issues that were raised by the Auditor General”.

The issues raised by the Auditor General’s special forensic report relate to unaccounted for money, missing land titles and customer loans that were inherited from closed banks which were sold at an undervalued rate.

The committee will have a marathon of activity up to December 2018 when it is expected to table its report before the committee of the whole house for consideration.

The Abdu Katuntu chaired committee’s tenure will expire in December and will be replaced by the maverick Kawempe South MP, Mubarak Munyagwa.

MP’s call for Kasekende’s resignation

This was the second significant news item reported about Parliament was where a section of Members of parliament led by Nwoya MP Simon Oyet and Ngora MP David Abala openly called for the resignation of under-fire deputy governor, Dr Louis Kasekende.

This was during a press conference held at parliament yesterday.

According to the MP’s, the resignation is meant to pave way for the IGG to carry out an investigation over illicit accumulation of wealth by the deputy governor.

The MP’s calls come on the heels of the declaration of income, assets and liabilities reports from the IGG that linked Kasekende to a number of swanky properties in Kampala’s rich suburbs.

Simon Oyet questioned how Kasekende could have accumulated over Uganda shillings10 billion within a short stint at Bank of Uganda. He further added, “If you know that you are innocent, then why are you worried. Step aside and allow the IGG do their work,”

Relatedly, leaked mobile money transactions of Bank of Uganda deputy governor Dr Louis Kasekende, indicate that he made transactions of over Shs 897 million through the mobile money platform for the period June 30, 2017, to March 30, 2018.

Earlier, Dr Kasekende, one of the top central bank officials in the eye of the storm, and facing an investigation by Parliament and the Inspector General of Government had his wife Edith Kasekende’s accounts at a city corporate bank – Standard Chartered (U) Ltd leak, showing that she transacted billions of shillings, including a remittance from the central bank.

Finally, Kasekende should listen to members of parliament (people’s representatives) if he doesn’t want embarrassment. Members of Parliament may pass bring a motion to force him resign if he hesitates.

Lukka.kagenyi@gmail.com

 

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