KAMPALA – Burahya County Member of Parliament, Hon. Joseph Mugenyi, has questioned conflicting accounts surrounding payments made to Haba Group, urging Parliament to establish the truth as Bank of Uganda officials appeared before the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE).
During the committee meeting, Mugenyi expressed concern over the differences between information previously presented by Haba Group and the figures disclosed by Bank of Uganda Governor, particularly regarding the amount of money the company had received.
The legislator recalled that during an earlier engagement with the committee, Haba Group had disputed receiving substantial payments from Bank of Uganda, with its account indicating a much lower amount than the central bank’s reported payments.
However, Mugenyi noted that the Governor had informed the committee that Bank of Uganda had paid 55 million US dollars, raising questions about the conflicting explanations and who was providing accurate information.
He said the committee would rely on the Governor’s account and the supporting documents expected to be signed before engaging Haba Group again to reconcile the differences.
Mugenyi, who described himself as an accountant, also said the Governor’s explanation had helped him understand why the outstanding amount had remained in the institution’s accounts for so long and the procedures being followed to clear it.
He observed that government had been making payments in smaller amounts over time before reaching the current stage, where security had reportedly been issued. He cautioned, however, that the existence of procedures for writing off the amount should not be confused with an actual write-off.
The MP also questioned how an amount previously presented as a provision for write-off had seemingly changed in status, calling for a clearer explanation of the developments surrounding the financial obligation.
He further suggested that the Ministry of Finance was seeking clarification on the circumstances under which Haba Group initially began demanding compensation from government, arguing that the ministry was better positioned to explain the authority behind the claims.
In his concluding remarks, Mugenyi commended Bank of Uganda for its presentation but reminded the institution of its constitutional mandate and the importance of maintaining independence in carrying out its responsibilities.
He warned that involvement in controversial financial transactions could expose the central bank to difficult situations, urging its leadership to remain transparent and protect the institution’s integrity.
Mugenyi said Parliament wanted to see Bank of Uganda operate independently and maintain the confidence of legislators and the public as the committee continued examining the disputed financial transactions.
