Custodian Board to meet over losses
Jun 16, 2009
THE Departed Asian Custodian Board meets next week to discuss the Auditor General’s report, which said about sh4b of the organisation can not be accounted for.
By Mary Karugaba
THE Departed Asian Custodian Board meets next week to discuss the Auditor General’s report, which said about sh4b of the organisation can not be accounted for.
The board, which was accused of meeting once in 10 years, comprises finance minister Syda Bbumba (chair), local government minister Adolf Mwesige, lands minister Omara Atubo, Attorney General Khiddu Makubuya and trade minister Kahinda Otaffire.
Others are former microfinance minister Salim Saleh, privatisation minister Rukia Chekamondo, internal affairs state minister Matia Kasaija and finance general duties minister Fred Omach.
The Auditor General’s report revealed that sh1.9b was withdrawn under mysterious circumstances from the board’s account and another sh1.8b said to have been used to compensate Asians expelled in 1972 had not been accounted for.
The Auditor General, John Muwanga, yesterday said the findings of the activities of the board were not a reflection of the current board, which was constituted in 2009.
“We are talking about activities of the board that date way back to 1997,†Muwanga said.
The board was established in 1973 to manage assets left by the 50,000 Asians who were expelled by former President Idi Amin.
The board is in the process of winding up, but the Auditor General recommended that the process be halted until the money is accounted for.
THE Departed Asian Custodian Board meets next week to discuss the Auditor General’s report, which said about sh4b of the organisation can not be accounted for.
The board, which was accused of meeting once in 10 years, comprises finance minister Syda Bbumba (chair), local government minister Adolf Mwesige, lands minister Omara Atubo, Attorney General Khiddu Makubuya and trade minister Kahinda Otaffire.
Others are former microfinance minister Salim Saleh, privatisation minister Rukia Chekamondo, internal affairs state minister Matia Kasaija and finance general duties minister Fred Omach.
The Auditor General’s report revealed that sh1.9b was withdrawn under mysterious circumstances from the board’s account and another sh1.8b said to have been used to compensate Asians expelled in 1972 had not been accounted for.
The Auditor General, John Muwanga, yesterday said the findings of the activities of the board were not a reflection of the current board, which was constituted in 2009.
“We are talking about activities of the board that date way back to 1997,†Muwanga said.
The board was established in 1973 to manage assets left by the 50,000 Asians who were expelled by former President Idi Amin.
The board is in the process of winding up, but the Auditor General recommended that the process be halted until the money is accounted for.