Bagyenda explains Global Trust sale and is tasked to produce critical sale documents

By Moses Kyeyune.

Lawmakers probing the illegal closure of seven banks have tasked the former BoU executive director for commercial supervision Justine Bagyenda to produce documents relating to the sale of the banks.

This comes after members continue to raise suspicion about the closure and sale of Global Trust Bank that occurred on the same day and in just a difference of one hour.

MPs including the committee chairperson for COSASE, Abdu Katuntu, Busiro East’s MedardSegona and Anita Among of Bukedea wanted a clear position backed by documentary evidence from Bagyenda.

However, the embattled former executive director insisted that she wanted more time to consult, which the MPs said was a delay tactic.

The MPs want Bagyenda to present negotiation minutes of sale, the evaluation reports of Global Trust Bank and Bidding documents, which the auditor general queried in his initial report.

She has also been tasked to explain the process in the sale of Global Trust Bank.

The auditor general, in his report stated that there was no clear process and procedure followed and that during the audit period, evaluation reports were never availed.

In her reply, Bagyenda has told the committee that a series of meeting preceded the actual sale and a proper process was followed.

The committee is still proceeding and KFM will bring you details.

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