Mutebile: I am going nowhere

Bank of Uganda Governor Emmanuel Tumusiime Mutebile says he is going nowhere as only one person - President Museveni - can remove him from office as mandated by the Constitution.

“I can assure you I am here for (the) long haul. There’s is nothing that can take me out of this seat except God. Therefore the market shouldn’t worry about the rumblings in Parliament,” Mr Mutebile told a press conference this morning while issuing new monetary policy instruments.

He said that he sees no reason why President Museveni should sack him.

“Therefore tell the markets to remain calm,” Mr Mutebile said.

The Public Accounts Committee indicted Mr Mutebile over the role he played in the payment of over Shs142 billion to businessman Hassan Basajjabalaba as compensation for loss of business when his concessions to run some city markets were withdrawn.

Government spokesperson Ms Karooro Okurut on Wednesday indicated that Mr Mutebile will not suffer the same fate as the two ministers, who were forced to resign mid this month.

“Today the Sub-Committee has presented their findings to Cabinet, and Cabinet has gathered a consensus. We have agreed that we table the same recommendations to the caucus tonight (Wednesday night) and also tomorrow (this Thursday) on the floor of parliament,” she said.

PAC had recommended that Mr Mutebile is either relieved of his duties, investigated by both the IGG and CID, and also be held liable for errors that could have resulted into financial loss.

However a senior minister who was part of the Cabinet Sub-committee said that Mr Mutebile didn’t deserve such punishment since he simply did his job.

The minister also said Cabinet did not find Mr James Ssegane, former city Town Clerk and Mr Mutebile’s co-accused, culpable.

Last week Cabinet sources were quoted saying sacking Mr Mutebile could shake the economy, especially at a time when the country is struggling with a debilitating down-turn.

Details of this story to follow later