IGG CRACKS A WHIP, BoU STAFF TRANSFER RICHES IN RELATIVES NAMES

By Wilber Muhwezi Kasibante

www.mknewslink.com

In Kampala—

The Inspector General of Government (IGG) Irene Mulyagonja is reportedly tracking the wealth of about 100 top officials of Bank of Uganda (BoU) which has prompted some of the top gurus to stash millions of money on their relatives bank accounts to avoid being nabbed.

The Deputy Governor BoU Dr. Louis Kasekendes son, George Kasekende has a fat account (3200xxxxxx) in Centenary Bank with over Shs780 million credits and over Shs500 million debits as of June 1, 2018 which has forced investigators to track the accounts of other family members.

Recently there was a leaked document showing Kasekendes wife Edith as transacting millions of shillings in a city bank though they claimed that the leaked document was fake. Edith runs an Easy Go account at Stan Chart Bank number 01001116xxxx, which is used to transact hundreds of millions of shillings. Investigations on the source of this money are ongoing.

Last year the IGG in accordance to the Leadership Code Act 2002 requires all specified leaders to declare their Incomes, Assets, and Liabilities asked all BoU officials to declare their wealth though opposed to those believed to have benefited in the controversial sale of Crane Bank and six other commercial banks.

Former BoU director for supervision of commercial banks Justine Bagyenda was investigated by the Financial Intelligence Authority (FIA) over allegations of illicit accumulation of wealth and allegations of money laundering. The IGG has also investigated Bagyenda who is also believed to have hidden cash on accounts of her children.

The IGG has already summoned some of BoU officials to verify whether they were not acquired using stolen public funds.

Its not clear whether the IGG started investigating the BoU officials in relation to the sale of Crane Bank.

A report by the Auditor General, John Muwanga, submitted to Parliament recently, indicates that during the period Crane Bank was under statutory management after being taken over by Bank of Uganda, more than Shs12 billion was spent by BoU on lawyers and consultancy fees without following the procedures or any indication that the money was meant to revive the bank.

The BoU officials under probe include the Governor, Emmanuel Tumusiime-Mutebile and his deputy Louis A. Kasekende who head the BoU Board.

Other Board members are; Judy Obitre Gama, James Kahoza, William Kalema, Keith Muhakanizi and Josephine Ossiya. Tumubwine Twinemanzi the director for supervision, Mary Katarikawe- operations director, Joyce Okello, PA to Governor, Richard Mayebo, Director Risk and strategic management, Elliot Mwebya, IT director and Phillip Wabulya, Director Petroleum Fund are all under investigation.

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