• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS Investment

FULL LIST: BoU officials under IGG probe over wealth accumulation revealed

GEORGE OKELLO | PML Daily Senior Correspondent by GEORGE OKELLO | PML Daily Senior Correspondent
October 22, 2018
in Investment
0 0
275
VIEWS
FacebookWhatsAppTwitter
The Inspector General of Government (IGG) Irene Mulyagonja was recently looking into the assets and liabilities of at least 100 top Bank of Uganda officials, including the Governor, Emmanuel Tumusiime-Mutebile and his deputy Louis A. Kasekende. List leaks. (FILE PHOTO)

KAMPALA- The list of Bank of Uganda officials who are being verified by the Inspectorate of Government over allegations of excessive accumulation of wealth has leaked.

The Leadership Code Act 2002 requires all specified leaders to declare their Incomes, Assets, and Liabilities to the Inspector General of Government.

Whereas the IGG last year tasked all BoU officials to declare their wealth, many of the officials accuse the government ombudsman of witch-hunt, especially in the face of the ongoing investigation over the controversial sale of Crane Bank and six other commercial banks.

A recent special Auditor General’s report poked holes into the process leading up to the sale of Crane Bank and faulted the Central Bank for squandering billions of taxpayers’ money in questionable expenditure purportedly to support the commercial bank’s operations during the time it was under statutory management.

Former BoU director for supervision of commercial banks Justine Bagyenda has already been investigated by the Financial Intelligence Authority (FIA) over allegations of illicit accumulation of wealth and allegations of money laundering.

However, the IGG spokesperson, Ms Munira Ali, dismissed accusations of witch-hunt, insisting that the declarations of assets started with other government entities and BoU is not an exception.

“We are verifying incomes, assets, and liabilities of BoU officials because the law requires that we do so. There is nothing like witch-hunt, in any case, we have just completed Uganda National Roads Authority, Permanent Secretaries and Accountant and now we are handling BoU officials,” she said in an interview.

Sources added that the IGG was shocked at the wealth some of the officials have acquired and has already summoned some of them to verify whether they were not acquired using stolen public funds.

“This verification exercise has already started and we have written letters to some BoU officials. They received our letters and those who have not received theirs, they will get their letters,” Ms Munira confirmed.

Some officials declared ownership of assets in upscale city suburbs such as  Ntinda, Bukoto, Makindye and Ggaba.

One of the declarations of income, assets and liabilities forms filled by Dr Kasekende shows that he owns property worth about Shs8 billion in upscale areas of Kampala, Wakiso and other areas. He is also a shareholder of Green Hill schools, a farm in Bukasa valued at Shs500 million and several commercial buildings which fetch millions of shillings in rent per year. In the declaration form, Dr Kasekende says he picked loans from commercial banks and used his statutory salary, savings from research, gratuity payments and travel allowances to build rentals and acquire the assets.

It is not clear whether the IGG started investigating the BoU officials in relation to the sale of Crane Bank.

A leaked report by the Auditor General, Mr John Muwanga, submitted to Parliament recently, indicates that during the period Crane Bank was under statutory management after being taken over by Bank of Uganda, more than Shs12 billion was spent by BoU on lawyers and consultancy fees without following the procedures or any indication that the money was meant to revive the bank.

BoU ran the affairs of Crane Bank for three months (October 2016-January 2017) before they sold it to dfcu at Shs200b.

The BoU officials under probe include the Governor, Emmanuel Tumusiime-Mutebile and his deputy Louis A. Kasekende

Other are Board members Judy Obitre Gama, James Kahoza, William Kalema, Keith Muhakanizi and Josephine Ossiya. Mr Tumubwine Twinemanzi the director for supervision, Mary Katarikawe- operations director, Joyce Okello, PA to Governor, Richard Mayebo, Director Risk and strategic management, Elliot Mwebya, IT director and Phillip Wabulya, Director Petroleum Fund are all under investigation.

Others are Deborah Kabahweza, ED Finance, David Kalyango, Chief Internal Auditor, Charles Abuka, Director Statistics, Kenneth Egesa, Director Financial Stability, Valentine Otangole, Director Banking, Olive Kamuli, director Medical Administration, Macky Aomu, Director National Payment Systems and Christine Alupo, Director Board Affairs.

Charity Mugumya, communication director; Hannington Wasswa, Director Commercial Banking, Ben Sekabira, director financial markets, Edward Mugerwa, director IT operations, Lorna Nzaro, Director IT Business automation, Kande Sabiti, procurement manager, Joanita Babumba, deputy director  Agricultural credit schemes, Hassan Nyangabyaki, deputy director board affairs, Natamba Bazinzi, assistant director administration currency, and Angella Kasirye, assistant director corporate affairs are also named.

Others are Balam Sempala, deputy director Deposit protection fund, Vito Semakula, assistant director security and compliance, James Banda Byamukama, ITO operations, Kalisa Katongole, assistant director operations, Kezekia Kizito, Deputy director microfinance institutions, Isaac Seguya, Deputy director statistics department, Michael Senkubuge, Deputy director systems and assurance, David Gulemye, Deputy director Financial policy and strategic risk, Solomon Kavuma, deputy director domestic market  operations, Timothy Sekirayi, deputy director banking (customer services), Allan Lwetabe, assistant FMD, Cynthia Nakayizza, assistant director banking department, Sophie Kironde, assistant director commercial banking operations and Oscar Edwin for pension administration.

Bosco Bainamazima, Fortportal branch manager, Francis Kakeeto, Mbale branch manager, Julius Turyamwijuka, Masaka branch, Alex Owiny, deputy director Gulu Branch, Milton Opio Orech, Director Security, Stephen Semuga, Director administrative services, Charles Mugisa, chief accountant, Yusuf Mukiibi, assistant director accounts department, Sylivia Juuko, head media relations and Kelvin Kizito Kiyingi, communications are also named.

 

 

 

 

Comments

Tags: ASSETSBOUIGGtopWEALTH

Related Posts

Central Bank governor Tumusiime Mutebile gets new term PHOTO/Courtesy).
BUSINESS

Museveni reappoints 71-year-old Mutebile for fifth term as BoU governor

January 18, 2021
56
NRM Secretary General Justine Kasule Lumumba addressing press on Sunday after their candidate being declared winner in 2021 Presidential election (PHOTO/Courtesy).
NEWS

NRM looking into reasons for its poor performance in Buganda – Lumumba

January 18, 2021
91
Dr. Silver has assured the NWSC staff that there will be no loss of jobs (PHOTO/File)
NEWS

NWSC announces emergency shutdown at Ggaba water works

January 18, 2021
157
BUSINESS

Jumia expands pick-up stations

January 18, 2021
52
Military and the police have raided the National Unity Platform offices again (PHOTO/Courtesy).
NEWS

BREAKING! Military raids NUP offices as Bobi Wine plans to challenge Museveni victory

January 18, 2021
1.1k
The Incumbent and incoming Mawokota south Amelia Kyambadde and Hillary Kiyaga respectively (PHOTO/File).
NEWS

Dr Hilderman trounces Minister Kyambadde as three other entertainers are elected to Parliament

January 18, 2021
961






 

 

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2020 PMLDAILY.COM

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2020 PMLDAILY.COM

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In