Poor Youth Movement opposes 2nd Cosase probe on BoU

Sempala Zahid (spokesperson UPYM) Nakazibwe Fatinah (publicity UPYM) Ssali Babu (legal advisor UPYM) member UPYM addressing press at Makerere Guest House.

The Uganda Poor Youths Movement [UPYM] has spoken out on the supposed re-investigation of Bank of Uganda [BoU] officials by the Hon. Mubarak Munyagwa-led Committee on Commissions, Statutory Authorities and State Enterprises [Cosase].

Addressing press Tuesday at Makerere Guest House, Sempala Zahid (spokesperson UPYM), Nakazibwe Fatinah (publicity UPYM), Ssali Babu (legal advisor UPYM) and member UPYM, called the move dubious since it aims at enabling BoU officials to smuggle in doctored documents.

The youth said the Abdu Katuntu committee finalised their report on BoU in February 2019 concerning its involvement in the illegal closure of 7 banks hence leading to losses on the part of the owners of these banks.

The said report had recommendations and it was presented to the flow of parliament which adopted it.

Victoria University

“When Hon Mubarak Munyagwa and his team took over office, they chose to re-investigate the BoU officials without approval and informing of the Rt Hon speaker of parliament of the need to do the same,” the youth said.

To them, the conduct of Hon Munyagwa reflects gross incompetence and is a move not only to waste tax payer’s money and scarce resources at parliament but also a move to “make a name” for himself, by revisiting the just concluded Cosase investigation against BoU which was exhausted by Abdul Katuntu and his committee.

Poor Youth at Makerere

“The revisiting of investigations into BoU is also a move to aid the smuggling in of evidence by BoU officials which they earlier on deliberately refused, neglected or failed to produce and are surprisingly now willing to produce the same voluntarily months after a report was concluded.”

The youth said as Cosase which mostly looks into issues of accountability and corruption in that sector, it is so absurd that they chose Hon Mubarak Munyagwa whose reputation is wanting in the field of corruption as he is also an accused before the Anti-corruption court and has a pending case.

“We therefore request that the Rt Hon Speaker intervenes and has him replaced because whereas we are alive to the fact that, “a person is presumed innocent until proven guilty”, it is not in the best interest of our country that we place someone with a pending case of corruption in such a sensitive position.”

Zahid pointed out that those who fight corruption should be clean themselves, adding that Cosase should push for recommendations not fresh investigations because “justice dies when corruption is dominated”.

“Lastly, we would like to thank the Rt Hon Speaker for listening to our cries as youth and halted the unfounded re-investigation in to the already concluded case of BoU officials before Cosase as the same would be duplication of work already concluded without a clear motive.”



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