Reports that the Inspector General of Government (IGG) Irene Mulyagonja is tracking the wealth of about 100 top officials of Bank of Uganda (BoU) has raised temperatures in that institution to the extent that some of the top gurus have stashed millions of money on their relatives’ bank accounts to avoid being nabbed.
For instance, the Deputy Governor BoU Dr. Louis Kasekende’s 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. Now that revelation has forced investigators also to track the accounts of family members of the targeted BoU staff.
Recently Eagle Online reported on a leaked document showing Kasekende’s wife Edith as transacting millions of shillings in a city bank, which would later come out in a press statement to say that the leaked document was fake.
Edith runs an Easy Go account at StanChart Bank number 01001116xxxx, which is used to transact hundreds of millions of shillings.
However, investigator are working to trace the source of this money which is transacted through her account, because she is not known to own any business venture that can accrue several millions of shillings within a short period of time.
A source at the Bank says Edith receives questionable deposits of Shs1.6 billion from BoU which she pays back after making a profit. A source says Edith and other people, including her husband Kasekende could be using BoU’s liquid cash to boost their daily businesses and then send back the money back before it is detected.
The Leadership Code Act 2002 requires all specified leaders to declare their Incomes, Assets, and Liabilities to the IGG.
Last year the IGG asked all BoU officials to declare their wealth but some were against it especially those who are believed to have benefited in the controversial sale of Crane Bank and six other commercial banks.
A recent special Auditor General’s the officials at BoU for squandering billions of taxpayers’ money purportedly to support Crane Bank as they said it was insolvent at the time of takeover before they sold it to dfcu Bank at Shs200 billion.
Former BoU director for supervision of commercial banks Justine Bagyenda has already been 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 hiden cash on accounts of her children.
The IGG is believed to be shocked at the wealth of some of the BoU officials have amassed and has already summoned some of them to verify whether they were not acquired using stolen public funds.
Some officials declared ownership of assets in upscale city suburbs such as Ntinda, Bukoto, Makindye and Ggaba.
One of the declarations of income, assets and liabilities forms filled by Dr Kasekende shows that he owns property worth about Shs8 billion in upscale areas of Kampala, Wakiso and other areas. He is also a shareholder of Green Hill schools, a farm in Bukasa valued at Shs500 million and several commercial buildings which fetch millions of shillings in rent per year. In the declaration form, Dr Kasekende says he picked loans from commercial banks and used his statutory salary, savings from research, gratuity payments and travel allowances to build rentals and acquire the assets.
It is 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. Mr 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.
More thers are Deborah Kabahweza, ED Finance, David Kalyango, Chief Internal Auditor, Charles Abuka, Director Statistics, Kenneth Egesa, Director Financial Stability, Valentine Otangole, Director Banking, Olive Kamuli, director Medical Administration, Macky Aomu, Director National Payment Systems and Christine Alupo, Director Board Affairs.
Charity Mugumya, communication director; Hannington Wasswa, Director Commercial Banking, Ben Sekabira, director financial markets, Edward Mugerwa, director IT operations, Lorna Nzaro, Director IT Business automation, Kande Sabiti, procurement manager, Joanita Babumba, deputy director Agricultural credit schemes, Hassan Nyangabyaki, deputy director board affairs, Natamba Bazinzi, assistant director administration currency, and Angella Kasirye, assistant director corporate affairs are also named.
Others are Balam Sempala, deputy director Deposit protection fund, Vito Semakula, assistant director security and compliance, James Banda Byamukama, ITO operations, Kalisa Katongole, assistant director operations, Kezekia Kizito, Deputy director microfinance institutions, Isaac Seguya, Deputy director statistics department, Michael Senkubuge, Deputy director systems and assurance, David Gulemye, Deputy director Financial policy and strategic risk, Solomon Kavuma, deputy director domestic market operations, Timothy Sekirayi, deputy director banking (customer services), Allan Lwetabe, assistant FMD, Cynthia Nakayizza, assistant director banking department, Sophie Kironde, assistant director commercial banking operations and Oscar Edwin for pension administration.
Bosco Bainamazima, Fortportal branch manager, Francis Kakeeto, Mbale branch manager, Julius Turyamwijuka, Masaka branch, Alex Owiny, deputy director Gulu Branch, Milton Opio Orech, Director Security, Stephen Semuga, Director administrative services, Charles Mugisa, chief accountant, Yusuf Mukiibi, assistant director accounts department, Sylivia Juuko, head media relations and Kelvin Kizito Kiyingi, communications are also named.