In amendments to the public finance bill 2012 the government submitted to parliament on October 23rd, 2013, the state officials from finance ministry said the bank account would be in Bank of Uganda.
The said account will accommodate all oil revenues. The account would be overseen by bank of Uganda.
According to government plans, the money from oil would be used to finance national elections. The economic affairs director, Lawrence Kiiza says the minister in charge of oil shall cause the publication of a pre-election economic and fiscal update 4 months before general elections and four months after the elections.
The oil cash shall be used to finance direct election, electoral commission, allocation to police and general security.
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