Bank of Uganda headed by Emmanuel Tumusiime Mutebile has been put in spotlight after it emerged that 10.1billion shillings had disappeared dubiously from its coffers.
The matter came up during an interface between the public accounts committee of parliament chaired by Alice Alaso and officials from finance ministry led by the secretary to treasury Keith Muhakanizi.
The officials had appeared to respond to the auditor general’s queries in respect to Financial year 2012/13.
During this interface the committee learnt that auditors had discovered that Bank of Uganda was involved in a row between itself and finance over refund of 10.1 billion shillings which it paid to unknown individuals purportedly on behalf of government.
The committee noted that the bank insists that there was a promissory note from the ministry of finance to pay this money to the bank; something the ministry vehemently denied.

The auditors found out during their audit process that there was unsupported promissory note worth shs10.1bn but they were not provided with documentation to support existence of this liability and therefore doubtful.

The committee then tasked Muhakanizi and his team to explain the origin of the promissory note and how it came about but the officials said that since 2003, they have been demanding for evidence about the genesis of this promissory note but this has never been availed.

The committee boss Alaso ruled that since there is a mystery about this money and its genesis, the bank of Uganda bosses, finance and accountant general must appear and explain details about it