Stanbic bank

A widow of a former senior government official has accused Uganda’s biggest bank by assets Stanbic Bank Uganda Limited of refusing to pay her Shs139.748, 000 which court awarded as 14 percent on Shs142.6 million that the bank confirmed one of its staff fraudulently withdrew from the account of the estate of her late husband.

The 14 percent interest was calculated to take account of each of the seven years that the beneficiaries of the late government worker’s estate were deprived of their money. Initially the family had asked for 500 million for damages, lost business opportunities and interest at 24 percent per annum but that demand was amended by the trial judge to 14 percent interest per year for seven years, which the bank agreed to act on but later became adamant and refused to pay the money.

The widow Theresa Regina Arionget Outeke was married to the late Leo Y.A Outeke, the former Auditor General of Uganda who served from mid-1970s to 1988 when he officially retired, but was again engaged on contract basis from 1988 to 19992. He died on June 14, 2007.

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The Shs142.6 million was meant to be pension for the late Outeke whose pension number was PEN.13879 under file No.C.P 9849. The money was withdrawn from account No.0140001379901 that belonged to the late Outeke.

In letter dated July 31, 2018, the widow complained to the Bank of Uganda (BoU) executive director bank supervision, Uganda Bankers Association (UBA), State House to act on Stan Bank to pay the money (Shs139.748, 000) as interest. According to the letter Stanbic Bank paid Shs142.046 million to the late Outeke’s family.

The widow aged 80, in the letter said Stanbic Bank Uganda Limited, now Stanbic Holding Limited, has refused to pay the Shs139.748, 000 as directed by the judge and instead sought to appeal through its lawyers ARCADIA ADVOCATES. The widow claims this is causing further inconvenience and suffering to the estate of the once loyal and longest serving Auditor General of the Republic of Uganda.