Bank of Uganda’s accountability of 200bn shillings questioned by Parliament

Bank of UgandaMembers of parliament on the parliamentary committee on finance have grilled Bank of Uganda and the ministry of finance officials over missing accountability of 200 billion shillings given to bank of Uganda for recapitalization in the ending financial year. This was discovered by members of parliament while meeting the minister of state for planning David Bahati over a new request to capitalize bank of Uganda.
In a meeting chaired by Kyadondo North MP Robert Kasule Sebunya MPs like Kyamuswa MP Tim Lwanga, Maruzi MP Maxwel Akora , Ntenjeru north MP Amos Lugolobi queried  the ministry officials led by the minister of state for planning David Bahati on why  such huge sums of money were not included in the acceptable accountability  document  of government known as policy statement which was given to parliament for perusal. Members of Parliament said that failure to reflect such money in a policy statement was causing suspicion that such funds were abused some times, yet it could have been used for other unfunded items in  ministries like education and health.
Both the ministry of finance and bank of Uganda officials tried to explain to the committee Members how this huge amount was used but all was in vain. Ntenjeru North MP Amos Lugolobi said that the officials from the ministry of Finance should reconcile their records to show the expenditure of the 200 billion shillings before more 150 billion shillings is approved for capitalization of Bank of Uganda. He said that this is a huge amount of money which cannot be left out without detailed explanation.

Bank of Uganda is about to complete receiving 1.1 trillion shillings for its capitalization.

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