BoU Deputy Governor Louis Kasekende and team appear before COSASE.

Bank of Uganda top officials are panicking after the Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) yesterday decided to launch an investigation into their wealth, some of it suspected to have been obtained through the controversial sale of seven commercial banks, which Cosase is probing.

The BoU Deputy Governor Dr.Louis Kasekende is to be investigated by a special sub-committee after Aruu South County MP Odonga Otto yesterday presented documents showing 72 land titles of prime plots in Kampala and Wakiso said to be owned by him and members of his family and his driver Moses Musitwa.

MP Otto also tabled declaration forms indicating that Kasekende submitted to the Inspector General of Government (IGG) only six properties during the assets declaration before the ombudsman, thus violating the Leadership Code Act 2002.
Otto also tabled bank statements detailing the transfer of US $1 million (about Shs3.7 billion ) to Ms Edith Kasekende’s account by a Chinese firm, Shs1.9 billion from MMAKS Advocates and US $71,000 (Shs262 million) that was wired to Kasekende’s account by Tororo District Local Government.
“What is of interest to me is the transfer of US$1 million to Ms Edith Kasekende’s account by China Railway Group,” Otto said adding that China Railway Group is the company constructed the BoU currency centre and that the committee should pick interest.

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He said some of the properties are linked to a finding by the Auditor General John Muwanga’s report, saying BoU officials sold assets worth Shs164 billion of five closed commercial banks at a discount of 80 per cent yielding only Shs32 billion. “These people were closing banks to enrich themselves. The public has to know the motivation of some people to close banks. The Ministry of Lands authenticated the documents by giving a search certificate detailing that these 16 properties are in your names,” Otto told Kasekende.

A sub-committee chaired by Bukedea District Woman MP Anita Among, army MP Brig Francis Takirwa and Kiruhura District Woman MP Sheila Mwine will investigate the land titles and present a report on Tuesday next week to guide on the way forward.

Meanwhile MP Elijah Okupa (Kasilo County) also tabled seven land titles belonging to former director for commercial banks supervision Justine Bagyenda in prime areas in Central and Nakawa divisions in Kampala.