The governor Bank of Uganda (BoU), Prof Emmanuel Tumusiime- Mutebile, has assured customers of Postbank (U) Ltd. and the general public that the mini-lender is safe, strong and resilient with continuing uninterrupted at all its branches countrywide.
Mutebile’s assurance follows an investigation into the top bosses of the bank by the Directorate of Criminal Investigations and Crime Intelligence Department (CIID) and the Office of the Auditor General. They were days ago subsequent arraigned in Court on grounds of abuse of office.
Mutebile said an interim team of senior managers, headed by the Acting Managing Director, Mr. Edwin Keronga, and Acting Executive Director, Mr. Benon Rukundo, and supported by a number of Acting Heads of Department, were appointed to run the affairs of Postbank (U) Limited.
The Bank of Uganda will update the public of any further developments through its formal communications channels” he said.
On April 5, State House team Anti Corruption team, led by Lt Col. Edith Nakalema and police CID detectives and officials from the Auditor General’s office stormed post bank offices and spent nine hours pressing the bank’s top officials over corruption allegations.
Their visit culminated into the arrest of the Managing Director of the bank, Mr Stephen Mukweli, Mr David Mwesige (the head of Information Technology), Ms Safina Wabuna (the executive director for Information and Communication Technology), Mr Augustine Kisitu, (the head of Business Technology) and Mr Emmanuel Mwaka, the finance manager.
Others who were picked included Alex Kayaayo (Executive Director for Credit and Business Growth), Fred Samuel Wasike (Head of Business Growth) and Gilbert Nuwamanya (Sales Manager).
They were produced before Chief Magistrate Pamela Lamunu Ocaya at Anti-Corruption court and leveled with charges of fraud. They denied all charges leveled against them.
According to prosecution, in April 2017 Mukweli and Wabuna altered the sum of contract for conducting ICT test from Shs20.2m to Shs37m contrary to procurement procedures which resulted into overpayment of Shs16.75 million to Aptech Computer Education causing a financial loss to Post Bank.
Mr Mukweli accused of abusing his authority when he signed a contract for supply of e-suit banking system to Compulynx Uganda Limited for more than Shs5.7 billion instead of Shs4.2 billion that had been approved by the contracts Committee.
It is further alleged that on October 29, 2017, at Post Bank Ms Wabuna, Mr Mwesige and Mr Kisitu requisitioned, approved and confirmed availability of additional funding of Shs1.6 billion without the approval of the contracts Committee.
Mukweli, Wabuna, Mwesige and Mwesigwa also allegedly requisitioned, processed, approved and paid Shs2.88 billion to Compulynx Uganda Limited for supply of e-suit Banking System in disregard of the payment structure stipulated in the procurement contract.
On December 19 and 21, 2018, Mukweli, Mwesige and Mwaka effected payment of Shs848.5 million to the same company for supply of the same equipment contrary to the payment structure stipulated in the procurement contract.