Min.Bahati Speaks Out On 90Bn B.OU Currency Saga Investigations

Min.David Bahati

STATEMENT ON THE ON.GOING INVESTIGATIONS ON
BANK OF UGANDA BY VARIOUS INVESTIGATIVE
INSTITUTIONS OF GOVERNMENT
Madam Speaker and Honorable Members, Bank of Uganda (BOU) entered into a contract with M/s Oberthur Fiduciaire on 26ft July, 2Ol8 to supply and deliver printed matter.
The contract requires that the supplier identifies at least two reputable carriers and insurers and advise the Bank of the applicable terms and costs. [n this case, the supplier’s communication indicated full charter for the three options
that were provided, from which the Bank selected M/S Kuhne & Nagel to airlift the printed matter to Entebbe International Airport.
Madam Speaker, In line with the contract, the Bank sent staff to travel to France to undertake the quality assurance functions of ensuring that the right consignment is loaded on the cargo plane from 22-26 Aprii,2Ol9. This activity started at the factory and ended at the nearest international airport where the plane took off for Entebbe.
On 27n April 2OL9, the printed matter arrived at Entebbe International Airport. As expected, twenty (20) pallets destined for BOU were received, intact and well-sealed. However, the BOU team at the airport noticed five (5) extra cargo pallets on board the chartered plane.
On receipt of the report on 7m M.y, 2Ol9 the Governor took a decision to have an investigation conducted by the Anti-Corruption Unit of State House (ACU),
because the issue involved third parties. Since 1Oft June 2019, staffs from the Bank of Uganda are under investigation and have all recorded statements. Bank of Uganda is still committed to assist the investigators to ascertain the facts surrounding the matter.
The investigations so far are going on well and we hope that they will be concluded soon. The Ministry of Finance, Planning and Economic Development together with BOU still await the fina1 report from the ACU. In conclusion Madam Speaker, I appeal to the public to restrain from perpetuating the false information that could compromise the investigations. I assure the public that we shall go to the bottom of this matter and the truth will be known and given to the general public in a timely manner.
So far there is no indication that this incident will affect our economy negatively especially in terms of inflation.