Why Mutebile should be spared

By Patrick Nakabale 

THE current storm over the role of Central Bank Governor Emmanuel Tumusiime Mutebile in the sh142b colossal compensation to businessman Hassan Basajjabalaba, if not handled well, may lead us to eternal regrets.

Mutebile is an accomplished banker, financial expert and economic guru revered by acclaimed international organisations such as the World Bank and IMF. The good professor was recently named the best Central Bank Governor in Africa for the year 2011 and recognised during the African Banker Awards in Washington DC, at the time inflation in Uganda had reached its peak at 30%.  

The PAC report implicates Mutebile as an accomplice in the compensation which saw the businessman walk away with extra billions of shillings over and above his actual pay, a case which culminated in the resignation of two ministers, Syda Bbumba and Khidu Makubuya. 

The guns are now on Mutebile, for having agreed to write letters of comfort to commercial banks to clear Basajjabala without rigorous scrutiny of the process that amounted to that money.  

Those baying for Mutebile’s blood argue that given the governor’s experience in handling money matters, spanning several years, he should have asked some questions before appending his consent or approval to have Basajja cleared. 

What they mean is that Mutebile should have hired detectives or sought services of CID and other spy agencies to investigate these claims before going ahead to write letters of comfort to commercials banks calling for payments. If Mutebile had taken thorough caution as to verify the compensation figures, would he have stopped the unscrupulous bureaucrats from “conniving” with Basajja to inflate figures?

In any case, it is no secret that our technocrats are increasingly becoming sophisticated in the way they steal public money. No amount of scrutiny can deter them from stealing; they will always find a way out. This is not to glorify thieves or say that Mutebile shouldn’t have taken caution on his part as an expert on financial matters.   

The key question, however, would be about Mutebile’s actual role in this anomaly. Did he know beforehand that the money he ordered commercial banks to give to Basajja was over and above the tycoon’s actual claim? Did he know that some unscrupulous technocrats had inflated the claim just to make a “difference” for themselves? 

If Mutebile was cognizant of the fact that he was approving a scandalous claim, then that would be the crime for which he would be held liable. Short of this, there is no incriminating evidence to pin the good governor or link him to the commissions and omissions of the officials who carelessly handled the claim resulting into loss in extra payments to Basajja. 

Let’s look at this from another perspective. Mutebile, by virtue of him being governor of the Central Bank, is the government’s banker. Being chief of the Exchequer, he follows directives. He was just doing his job of executing the official directives from “above”, and in his discretion, he knew he was dealing with genuine documents and claims since they bore signatures and seals of the respective offices which had handled the issue to the highest level.  

The governor is the custodian of the government’s money. His job is not to stop issuance of money but to ask for authorisation before releasing a penny. If I entrust my money with someone, it means I am free to access my money as and when I want it.

The “keeper” of my money shouldn’t question when I tell him to pay so and so, though he could caution me on the rate at which I spend money. In this case Mutebile was following directives, based on sanctions and authorizations by officials who had gone through a process of awarding Basajja. 

The writer is Youth MP-Central region/General Secretary NRM Caucus