There is fire in Uganda Investment Authority (UIA) after the Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) allegedly summons the UIA’s Chairman Board of Directors Morrison Rwakakamba and his group to account for the improper allocation of Ugx55m
It is being learnt that, this money was supposed to be used towards the sponsorship of investment promotional gatherings, a violation of fiscal responsibility guidelines outlined in the Fiscal Charter. But there has been a discrepancy among the issues highlighted in the Annual Audit Report for the fiscal year 2022/2023.
What Really Happened?
Legislators expressed concern over procedural irregularities in the recruitment process, where there was a failure to hire staff as indicated in the Office of the Auditor General report. This is where UIA’s Chairman Morrison Rwakakamba and his group he leads gets involved.
This revealed that out of the Shs49.9 billion allocated to UDC, only Shs49.62 billion was utilized, with unspent funds attributed to unsuccessful recruitment efforts where there was allegedly lack of qualified candidates.
“We are addressing a misallocation issue where the law is unequivocal, and evidence of wrongdoing is apparent. The Auditor General has made his recommendations, and we will make our determinations accordingly. We request a comprehensive account of events sponsored at that expenditure level,” Nakato who sits on the committee quipped.
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