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Motion to Investigate Bank of Uganda Halted

Published 3 months ago -


 

Deputy Speaker Jacob Oulanyah, in his ruling on Tuesday August 1, 2017 put a stop to a proposed motion to investigate Bank of Uganda’s role in relation to Crane Bank saga, Oulanyah halted the motion grounds that any investigation would offend the sub-judice rule.

“ I received two letters from MMAKS Advocates [BoU’s lawyers] and the Governor challenging the proposed motion on grounds that any inquiry would bias ongoing court cases.”  said Hon Oulanyah.

Bank of Uganda Governor Tumusiime Mutebile’s letter to Deputy Speakers’ office referred to three cases that are before High Court-all related to the collapse of Crane Bank and whether BoU either reneged on its supervisory role in the process or was part of a collusion syndicate.

The letter from the Governor also referenced High Court civil suit No 576 filed on 25th July 2017 in which the liquidated National Bank of Commerce (NBC) and former owner Amos Nzeyi have sued Bank of Uganda, Crane Bank and its former owner Mr Ruparelia

“I find merit in the concern of sub judice raised, in the concern of that the proposed Parliamentary investigation in the affairs, circumstances and culpability of BoU and all individuals involved could be sub judice,” Oulanyah ruled.

He also ordered the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to stay any proceedings relating to Bank of Uganda and the defunct Crane Bank but indicated that Parliament will keep tabs on the matter, concluding that all Parliament. can do is follow closely the court cases and that the motion to investigate will simply remain on the order paper.

Also Read:  Speaker speaks out on court ruling on rebel MPs

Background:

 MP Nandala Mafabi last week moved a motion demanding an inquiry be conducted into the conduct of BoU together with officials at the Ministry of Finance in regard to how Crane Bank collapsed as they watched on. More in this blog.

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