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MPs insist BoU must become more accountable; want governor and deputy governor’s powers split

LEFT-RIGHT: Igara East MP, Hon Michael Maranga Mawanda, the mover of the private members; Constitution Amendment Bill 2020, Hon Asuman Basalirwa and Hon Abdu Katuntu. The trio insisted the Central Bank must be reformed and made more accountable to the taxpayer. They also argue the reforms will avoid the scandals discovered during a 2018/19 Parliament Probe of the Central Bank.

Members of Parliament, sitting on the Legal and Parliamentary Affairs Committee have insisted the Governor and Deputy Governor of Bank of Uganda cannot also coccupy the offices of Chairman and Deputy Chairman of the central Bank’s board. The MPs, despite, contrary views from the Central Bank itself, have stuck to their guns, saying that maintaining the statusquo, would make the governor and deputy governor accountable to only themselves, which is a flaw in corporate governance. The MPs, who include, Hon. Abdu Katuntu, who chaired the 2018/19 probe into the Central Bank by the Parliament’s Committee on Commissions, Statutory Authorities and…

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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