Saturday, March 4, 2017

Why #Museveni attempted to ban discussion of #Uganda #Oil revenues

It recently emerged that Museveni had rewarded 42 billion shillings to public servants who participated in the case against oil companies that earned the country about U.S 700$.  The public questioned the
powers of dishing out public money, the amount involved, the criteria of selecting who is rewarded and with what amount.  The public rightly
suspected that the 42bn was shared by the usual sharks who have milked the country dry.

Responding to public concerns, parliament moved to treat the 42bn cash bonanza as a matter of national concern.  As it prepared to debate it, Museveni moved very fast to order for an interim court order baring parliament from debating the same.  

In fact the order was not only baring parliament but any person or authority thus "....parliament or any person, or authority purporting to investigate into the decision by the President  as the head of the executive arm of government." Parliament stood its ground in defence of its independence and the
Speaker ordered for revocation of the 'bogus court order'.

Museveni feared that such a debate would unearth his grand theft of the trillions  of oil money from the national coffers.  Feeling cornered he was compelled to withdraw the court order and parliament went ahead to institute a probe into the 42bn cash bonanza.  However, he summoned the regime M.Ps at State House and did the usual intimidation and

He warned: " are not the first parliament and you know I will defend them because I am the one who gave them the money. You are abusing them, I don't want to hear that anymore."

Unfortunately, he continues to hear more secrets about the oil money spilled.  It has now become public knowledge that the U.S $696m (2.5tn
shillings) in capital gain tax and non tax related revenues from oil companies was stollen.  

Since 2010 URA had been receiving and banked
oil revenues at Bank of Uganda.  The money was transferred from the URA Tax Collection Account to a newly opened Oil Revenue Account.  Two
weeks later, BOU bought all the received oil dollars.  

In Nov 2014 Museveni transferred 244.3b shillings from the oil account to Ministry of Energy and Minerals for Isimba and Karuma dams construction. In June 2015 the Oil Revenue Account was closed and a new Petroleum Fund Account was opened.  It did not receive any cash transfers from the
defunct Oil Revenue Account but instead all the  1.3tn shillings was sent to the Consolidated Fund Account.  There is no trace anywhere as to the whereabouts of this money.

In November 2015 one oil company paid to the Petroleum Fund Account a sum of US $36m and in July 2016 the same company paid another U.S
$36m.  It is this US $72m and another 10b shillings that is available out of the initially huge chunks of oil revenues.  The parliamentary probe commiittee had ordered for an audit report into the anormally.

By attempting to block the discussion of the 6b shilling cash bonanza, Museveni was attempting to hide the discovery of the grand daylight theft of the oil money.  Museveni has repeatedly made it clear that the oil is his and that the opposition want him to go and leave 'his oil'.  Maybe at lease for once Ugandans should take him serious.


Source: Change of guards blog

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