KAMPALA — Budadiri East Member of Parliament Hon. Eng. Julius Nakiyi has called on the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to temporarily suspend consideration of the Haba Group matter until the Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi, appears before the committee.
Nakiyi made the proposal on Thursday, October 1, 2026, during a COSASE sitting at Parliament in Kampala, where MPs were examining issues surrounding the Bank of Uganda’s financial statements and the Haba Group transaction.
In his submission, Nakiyi distinguished the Haba matter from other issues before the committee, noting that MPs could continue handling matters concerning the central bank that do not require the presence or explanation of the Finance Minister.
He proposed that the committee proceed with the other outstanding matters while putting the Haba-related issue on hold until the minister appears to provide the necessary explanations.
Nakiyi said the Haba matter was particularly connected to the minister and therefore required his presence before the committee could proceed effectively. He also indicated that he had other matters relating to the central bank that he wanted to raise with the minister.
The Haba matter centres on a Shs140.487 billion financial exposure involving a Bank of Uganda guarantee issued in 2017. The matter was flagged in the Auditor General’s report on the central bank’s 2024/25 financial statements and has become a key focus of the COSASE inquiry.
The committee has been seeking clarification on how the guarantee was issued, the role of the Ministry of Finance, the obligations of the parties involved and why the outstanding amount has remained unresolved for several years.
The inquiry has also involved Haba Group chairman Hassan Basajjabalaba, who has disputed the figures presented in relation to the guarantee and provided his own account of the outstanding amounts.
Nakiyi’s proposal would allow COSASE to continue scrutinising other Bank of Uganda matters while awaiting the Finance Minister’s appearance on the Haba issue. The committee is continuing to examine the circumstances surrounding the guarantee, the responsibilities of the different parties and the status of the outstanding financial exposure.
