In a social media engagement between Speaker Rebecca Kadaga and the public dubbed #AskKadaga, Kadaga revealed that Ministry of Finance must be ready to explain the currency scandal that has put Bank of Uganda in the spotlight once again.
Kadaga says the ministry will also have to respond on the Treasury Memorandum in regards to issues of Bank of Uganda and other reports on the finance system.
“I’ve told the Ministry of Finance that they have one month to respond on the Treasury Memorandum in regards to issues of Bank of Uganda and other reports on the finance system,” Kadaga said.
To come to such a conclusion, Kadaga stated that government has been reluctant on implementing recommendations made by the Committee on Commissions Statutory Authorities and State Enterprises (COSASE) when Abdul Katuntu was in charge.
She believes ongoing scandals at BoU are a threat to the economy since they scare away serious investors.