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COSASE summons Bassajjabalaba over shs140bn BoU guarantee

by Muhammad Ngobi
in News
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COSASE summons Bassajjabalaba over shs140bn BoU guarantee

Hassan Basajjabalaba

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The Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has summoned city businessman Hassan Bassajjabalaba to appear before the committee next Wednesday to answer queries concerning a Shs140 billion guarantee he reportedly received from the Bank of Uganda (BoU) in 2017 under the Haba Group of Companies.

The summons follows a letter delivered to the committee by Calvin Onyango of Magina Advocates, requesting that Bassajjabalaba be allowed to appear before the committee next week after receiving an invitation letter on Tuesday.

In the letter, the lawyers reminded the committee that the Shs140 billion matter remains the subject of court proceedings and argued that the invitation had been issued at short notice.

Committee members, led by COSASE Chairperson Muwada Nkunyingi, expressed concern over what they described as delays by Bassajjabalaba in appearing before the committee and subsequently issued fresh summons.

“What is funny is that the Bank of Uganda requested to appear next week to address this same matter, and Hassan Bassajjabalaba is also requesting to appear on Wednesday next week,” Nkunyingi said.

Nkunyingi said the fresh summons should be served by police officers and directed Bassajjabalaba to appear before the committee in person at 9:00 a.m. next Wednesday in his capacity as chairman of Haba Group Ltd.

“The fresh summons must be served by police officers for him to appear on Wednesday next week at 9:00 a.m. in person as chairman of Haba Group Ltd,” Nkunyingi said.

The committee also summoned officials from the Bank of Uganda to appear and provide information regarding the Shs140 billion guarantee reportedly issued to Bassajjabalaba’s Haba Group in 2017.

The matter has attracted the attention of COSASE as the committee seeks explanations regarding the circumstances under which the guarantee was issued and the requirements attached to it.

Tags: Bank of UgandaBank of Uganda guaranteeBassajjabalaba summonsBoUCalvin OnyangoCOSASECOSASE summonsfinancial guaranteeHaba GroupHaba Group of CompaniesHassan BassajjabalabaMagina AdvocatesMuwada Nkunyingiparliamentary committeeparliamentary investigationsShs140 billionShs140bn guaranteeUganda businessUganda newsUganda Parliament
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Muhammad Ngobi

Muhammad Ngobi

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Join us on this journey as we continue to be your trusted source for the bold, accurate, and authoritative news, information, and knowledge you need to stay informed, engaged, and inspired. Uganda's stories are worth telling, and UG Bulletin is here to bring them to you.

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