In two years, embattled Bank of Uganda Executive Director Justine Bagyenda wired shs683 million to an account in Centenary Rural Development Bank held in the name of Kenny Muwonge, a man believed be her errand boy, bank documents in possession of Eagle Online show.
According to the documents, ‘Kenny Muwonge’s’ account in Centenary Rural Development Bank is SA 2120011273 (Mukwano Arcade branch/Ben Kiwanuka Street) and details indicate Ms Bagyenda used to send the money in tranches of shs20, 000,000 using the bank’s real time gross system (RTGS). RTGS is a system of payment made online from one bank to another and the payment goes through Bank of Uganda. It is real time because it takes two hours- you just make payment instructions to your banker instead of issuing cheques.
The Bank details in possession of Eagle Online covers the period 2014 to 2017. Ms Bagyenda, according to the documents, however, started making the electronic transfers to Kenny Muwonge on September 10 2015, with an initial shs20, 000,000 transfer from her Barclays Bank (Kampala Road Branch) Account. Similar transfers went on into 2016 where she was more less the only creditor to the Kenny Muwonge account. Anyhow, between 2014 and 2017, the account had seen shs2b pass through it, in 37 transactions with Mr. Muwonge.
Intriguingly, unlike Ms Bagyenda’s heavier accounts in Diamond Trust Bank which hold money for longer periods, this particular account in Centenary Rural Development Bank could either be a ‘daily expense account’ or a conveyer account because money hardly spent a day on it.
For instance, starting with an opening balance of shs378, 965 in January 06 2014, the account had collected shs176, 998,652 by close of the year but only had shs2m as closing balance.
Most of the money was always withdrawn a day after being credited onto the account, sometimes via CenteMobile, the bank’s mobile phone banking service.
It is the most active of all Ms Bagyenda’s accounts including mobile withdrawals of shs40, 000. The number used to withdraw the monies is registered as ‘Muwonge Compound’.
The phone number could not go through when we tried it.
However, our sources say ‘Mr Muwonge’ works as Ms Bagyenda’s errand boy, executing her family chores including paying bills.
Account details also show that shs123m was debited by a construction entity Ken and Joe construction company.
Ms Bagyenda was defenestrated from Bank of Uganda less than a month ago and immediately replaced. She had been at the top institution for over decade rising through the ranks.
She is however contesting her dismissal and sources say she reports to work despite the bank Governor writing to her to desist from appearing in the precincts of the bank.
Early this morning, we reported that Ms Bagyenda has on her shillings and dollar accounts in Diamond Trust Bank shs20b, amassed in just six years.
Mr Muwonge’s name also prominently features on the documents of the Diamond Trust Bank transactions.
Eagle Online is still struggling to get through to Ms Bagyenda.
