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Wednesday, October 4, 2023
Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

BOU Director Bagyenda on the spot over tax evasion

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The Bank of Uganda Executive Director in charge of supervision Justin Bagyenda is on the spot again for evading taxes estimated in millions of shillings.

According to a source, the said money accrued due to non-payment of Income Tax from Bagyenda’s apartments in Naguru, rented by top managers of the now-closed Crane Bank for 10 years.

Further, according to the source, the Uganda Revenue Authority (URA) has already began investigations into the said tax evasion.

Mid this year Ms. Bagyenda came under criticism for allegedly failing to enforce her mandate, something her critics said had led to the closure of a couple of commercial banks including the Crane Bank, that is now under receivership.

Also, at about the same time reports indicated that the Inspectorate of Government (IGG) was set to begin investigations into allegations that Ms. Bagyenda made incorrect declarations contrary to the Leadership Code, 2002.

According to sources speaking on condition of anonymity, officials from the IGG’s office were set to meet with city lawyer Dennis Nyombi, to ascertain whether Ms. Bagyenda made false declarations about her assets including land and houses.

Among the property she allegedly falsely-declared are houses in the leafy suburbs of Ntinda, Naguru, Bugolobi and Kulambiro.

“When I wrote the letter I got confirmation from the IGG and I was to get an appointment with the official handling the matter but later on the person went abroad and we have now scheduled between 10th and 20th to meet,” lawyer Nyombi, who is representing ‘whistleblower’ Dick Kimeze, said.

In his allegations, Mr. Kimeze also avers that the properties owned by Ms. Bagyenda are way above what she has earned during her employment over the years.

Contacted at the time the IGG spokesperson Ali Munira confirmed their office had received the petition against Ms. Bagyenda.

“Some lawyer wrote requesting for a meeting to discuss the wealth of the lady (Bagyenda); the meeting has not taken place,” Ms. Munira said on phone then.

By press time it was not possible to get Ms. bagyenda for comment, and also to ascertain whether the said meeting at the IGG’s had taken place.



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