Lawyer Timothy Masembe Kanyerezi

Kampala law firm, MMAKS Advocates, on Saturday came out to deny that one of its partners Mr. Timothy Masembe was present on the date and at the time that Ms Justine Bagyenda allegedly took documents out of the Bank of Uganda (BoU).

MPs on the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) that is probing BoU senior staff over the controversial sale of seven commercial banks have established that some of the documents related to the closure and liquidation of the banks are missing, worsened by the fact that BoU officials being probed do not know where the documents are.

But CCTV Cameras installed at BoU show Mrs. Bagyenda and her aiders ferrying out materials believed to have been some of the documents, out of BoU. The video clips show Mr. Masembe at BoU premises on a given date.

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But the law firm says the video clip was intentionally edited. “The video clip showing Mr. Masembe was deliberately edited to exclude the date of February 14, 2018 which clearly appears in the non-edited original and then merged with a video clip of a subsequent date when the alleged document removal occurred being the February 10 2018,” it says in the press release .

“The factual position and sequence of facts is as follows. Mr. Masembe was asked by Mrs. Margaret Kasule, the BoU Head legal and Mrs. Justine Bagyenda, the Executive Director Bank supervision to attend urgent meeting in Bank of Uganda on February 14, 2018. Mrs. Kasule was scheduled to travel out of the country that Sunday evening but required urgent advice on a matter before she left. Mr. Masembe attended the premises of the Bank of Uganda ta the appointed time and met with Mrs. Bagyenda. Mrs. Kasule failed to make it in time and the discussion was held physically with Mrs. Bagyenda and MRS. Kasule on phone,” the firm said in a press release.

However, MMAKS does not show their original and non edited video. MMAKS has been at the centre of investigation for their deep involvement in the closer of commercial banks.

The firm says; “the video clip clearly indicates the events of the alleged removal of documents from the Bank of Uganda happened six days later on February 10, 2018. This was after the Governor announced the reshuffle of senior officials of the Bank of Uganda on the 7th February 2018 which reshuffle included the retirement of Mrs. Bagyenda.”

The firm has threatened to suit the editor or the instigator of the edited video showing Mr. Masembe in the company of Bagyenda. “We reserve our rights to legal action against the creator and / or instigator of this video clip which is defamatory and intended to divert public attention from the real matters in controversy in the wider back story,” the frim says.

Most documents missing relate to those of Teefe Trust Bank, Greenland Bank, International Credit Bank, Cooperative Bank, Global Trust Bank Uganda and Crane Bank Limited. The documents missing include valuation reports, minutes of meetings related to the sale of banks and others.

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