Business
MPs grill NDA officials over accounts
Publish Date: May 03, 2014
MPs grill NDA officials over accounts
Dr. Sam Zaramba is the NDA board chairman
  • mail
  • img
newvision

By Vision Reporter

The National Drug Authority (NDA) maintains several suspicious but dormant bank accounts despite being ordered to close them after they were discovered five years ago, MPs have heard.

NDA officials pleaded with the parliamentary committee on statutory authorities and state enterprises, that the main Board was supposed to discuss closure of two accounts in Mbarara but was dissolved before it could.

The officials led by board chairman, Dr. Sam Zaramba, said they now want to seek approval of the interim board.

“We took over a Board less organisation and the decision to move from Bank of Baroda to Stanbic Bank was made, but the accounts could not be closed because the signatory to the accounts had resigned,” Dr. Zaramba said.

He explained that soon after Gordon Sematiko’s appointment, the Board was dissolved and therefore, there was no authority to appoint the accounting officer signatory to the bank accounts.

Sematiko was supposed to be the accounting officer. He said Sematiko was finally made NDA accounts signatory in February 2014 and the resolution registered with bank of Baroda for eventual closure of the accounts.

The NDA head of finance, Dan Badebye, said the accounts were opened to ease movement of cash from head office to regional offices. The NDA is the country’s drugs regulatory bod

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Cleaner low sulphur fuel diesel on market
Effective February 2, 2015, low Sulphur fuel diesel with 50 parts per million (ppm) sulphur content will be on market....
Electricity tribunal hits snag over absence of energy ministry PS
Hearing at the electricity disputes tribunal in the row between Umeme and ERA hits a snag over the absence of Energy ministry PS Kaliisa Kabagambe....
Honda investigating possible exploding airbag death
Honda is probing a deadly crash in the United States possibly linked to exploding air bags blamed for killing at least five people....
Contradictions cloud pensions liberalization
MAJOR contradictions still exist among the major backers of the impending liberalized pensions sector on which to adapt with the liberalization bill expected on the floor of parliament...
Gov
IN efforts to expand market for Uganda's agricultural produce, Government has embarked on wooing more investors in agro-processing to set up investments...
Stanbic Bank signs debut $85m  loan
Stanbic Bank Uganda (SBU) has signed an $85 million, 18-month loan to fund its general business activities, the first time it has borrowed from international loan markets, the main arranger of the facility said...
Do you agree with the new tax on private schools?
Yes
No
Can't Say
follow us
subscribe to our news letter