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We haven’t let Bagyenda off the hook, we are still investigating her wealth- IGG Mulyagonja

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The Inspector General of Government (IGG), Justice Irene Mulyagonja, has said that the investigations and verification process into the property of the former Bank of Uganda (BoU) Executive Director in charge of Supervision Ms. Justice Bagyenda is under way and soon a report will be released.

Mulyagonja said while briefing journalist at the Uganda Media Centre on the forthcoming 9th Commonwealth Regional Conference for heads of anti-corruption agencies in Africa. Uganda is the host of the conference.

The IGG’s investigations followed a petition that was filed by a whistle blower questioning the accumulated wealth of Bagyenda who was a key player in the closure of Global Trust Bank, National Bank of Commerce and Crane Bank Limited.

The investigations are also based on the report of the of the Financial Intelligence Authority (FIA) that did also handle issues to do with money laundering against Bagyenda as well as possible tax evasion.

The IGG said if Bagyenda is found culpable, she will be tasked to explain the accumulation of her wealth in relation with her salary she was receiving from in BoU before she retired and as well other sources of income that will be verified by the inspectorate. She said the report will be handed over to parliament and the petitioner.

She said Bagyenda stands to be prosecuted in courts of law if she fails to explain the source of her wealth that includes various properties in Kampala and money on various accounts in billions of shillings.

“You are aware that parliament decided that any person investigated and found culpable is taken to court. If that person is innocent, the report is directly handed over to him or her, so wait for us to finalise the process and it is the findings that will determine the way forward,” She said.

Since 2018, IGG’s office has always claimed it is almost done with the investigations that include verification and that the report will soon be given to the petitioner and parliament that was carrying out a wider inquiry into BoU over seven defunct banks that were closed by BoU without following proper procedures.

Asked by this reporter whether her office is still relevant since she has failed to hand in the report on Bagyenda, she said her office is still important since it is established by the law and that will continue to handle all the cases received.

She also said they her office is digging deeper to establish and verify the findings of the FIA report to see if Bagyenda did not disclose certain properties of hers.

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