The Democratic Party (DP) has criticized the ability of the newly appointed Bank of Uganda Governor, Dr Michael Atingi-Ego, to address the institution’s financial challenges after the recent Shs 60 billion scandal under his acting tenure.
Speaking at a press conference on Tuesday February 11, 2025, DP’s acting spokesperson, Ismael Kiirya, expressed concerns over Atigo’s leadership, arguing that his appointment raises questions about whether he can effectively restore stability at the central bank.
“As DP, we are doubting Dr. Atigo’s capacity to solve these challenges, especially since most of these issues occurred while he was acting governor. If we can lose Shs 60 billion in a blink of an eye, what assurance do we have that such losses won’t continue under his full tenure?” Kiirya asked.
He called for immediate intervention to prevent further mismanagement especially with the BoU cybersecurity systems which remain under scrutiny after the unexplained financial loss.
DP called for urgent implementation of recommendations from the Auditor General’s latest report, which highlighted widespread corruption in local governments.
Kiirya stressed the need for stricter action against Chief Administrative Officers (CAOs) implicated in the mismanagement of Parish Development Model (PDM) funds.
He also urged the government to reconsider the Inspector General of Government’s (IGG) lifestyle audit proposal, which was previously rejected by President Yoweri Museveni.
“If we truly want to eliminate corruption, we must implement the IGG’s lifestyle audit proposal, the Auditor General’s recommendations, and the anti-corruption law proposed by Hon. John Simbwa in the 9th Parliament, which suggested confiscating assets from corrupt officials,” Kiirya stressed.
With the prolonged vacancy of the top leadership position at the Bank of Uganda which weakened investor confidence, delayed critical policy decisions, and risked instability in the financial sector, the new Governor is faced with numerous tasks ahead including establishing major economic reforms and crisis responses to stir the institutions in a firm direction.
