Bagyenda: “I need my passport for X-mas travel”

bagyendaa

The former Bank of Uganda, Executive Director Bank Supervision, Justine Bagyenda has written to the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) seeking access to her passport to enable her travel abroad for Christmas holidays. The Committee is currently withholding Bagyenda’s travel documents after she stalled committee proceedings when she had traveled to the U.S. Bagyenda’s action to travel out of the country without notifying the committee ahead of time was perceived as contempt to the committee and the entire Parliament. On Friday, the Committee Chairperson, Abdul Katuntu…

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Panic as Louis Kasekende transfers his properties to his driver’s names to sabotage investigations

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News coming in to daily inspector shows fresh evidence of Kasekende transfering his properties to driver’s names. The news we have via a leaked document shows that Bank of Uganda (BoU) deputy governor Dr. Louis Kasekende transferred 12 plots of land into the names of his driver Moses Musitwa in an effort to dodge the scrutiny of the Inspector General of Government (IGG). The transfer forms, dated January 31st 2018, show, Kasekende subdivided land located on Busiro Block 314 into 12 plots: 6090,6091,6092,6093,6094,6095,6096,6097,6098,6099,6100 and 6101 and proceeded to transfer them…

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COSASE sets up a committee to investigate Bagyenda and Kasekende’s wealth.

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Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) has decided to launch an investigation into the wealth of former director supervision at BOU Justine Bagyenda and the deputy governor Loius Kasekende. This investigation comes in after suspecting that the duo might have acquired their wealth through the controversial sale of seven commercial banks which Cosase is probing. Aruu South County legislator Odonga Otto presented documents showing 72 land titles of prime plots in Kampala and Wakiso said to be owned by Kasekende and members of his family and…

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BOU statutory manager denies knowing how Crane bank loan files ended up at DFCU

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Amazing things will never end at the embattled bank of Uganda. It was revealed in a one COSASE meeting that the statutory manager who was in charge of all the loan files at Bank of Uganda never knew when DFCU came to pick up all the Crane Bank Loan files. When he was asked about how these files were transferred to DFCU, the gentleman said that he got the news on whatsapp. He saw a picture of the lorry carrying all the files from BOU to DFCU and that when…

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Sam Kutesa’s bribery report to be out in January – AG

kuteesa

Findings into a claim that Foreign affairs Minister, Sam Kutesa, received a $500,000 (about Shs1.9 billion) bribe from a Chinese will be ready next month, but an interim report will be ready by December 20, the Attorney General, William Byaruhanga, told Parliament yesterday. “I am going to inquire into this matter and at the end of that inquiry, this Parliament shall be made aware of the findings of that investigation,” Mr Byaruhanga said. “I expect to bring back the report as soon as we resume in January,” he added. The…

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BOU Officials grilled over Shs478b used to recapitalize Crane Bank

BAGYENDA-SSEKABIRA

Parliament’s committee on Commissions Statutory Authorities and State Enterprises has learnt that Bank of Uganda spent 478 billion to sell Crane Bank, way above the 157 billion shillings it needed to return to adequate recapitalization. The committee has been probing BoU over the closure and sale of seven commercial banks. The MPs on the committee using the Auditor General’s report revealed irregularities in the sale of the banks CBL, Global Trust Bank, Greenland Bank, International Credit Bank, Cooperative Bank, National Bank of Commerce and Teefe Trust Bank. During a probe…

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BOU Probe: Price Water Coopers (PwC) summoned over Crane Bank Closure

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PARLIAMENT. Price Water Coopers (PwC Uganda), a private auditing consultancy has been summoned before the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to explain how they arrived at the Shs239bn undercapitalization figure of defunct Crane Bank. COSASE Chairperson Abdu Katuntu (Bugweri County) on Wednesday led the MPs to probe Bank of Uganda (BoU) officials over the closure of Crane Bank- the last bank to be closed by the Central Bank in 2016. The committee zeroed on Price Water Coopers after BoU officials for the second time failed…

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Kutesa to be probed over bribery allegations

kuteesa

President Museveni yesterday revealed that he had spoken with Foreign minister Sam Kutesa over allegations of receiving $500,000 (Shs1.9b) payment from a Chinese national in exchange for favourable business consideration in Uganda. In answer to a question by journalist Joseph Sabiti during a press conference last evening, Mr Museveni said the government will look into the claims to establish whether a crime had been committed or not. If the money was a bribe, the President said, the minister would be “answerable”. “He [Kutesa] told me that the money was for…

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Masaka: Man sentenced to 37 years in jail for defiling 10-month old baby

wooden gavel and books on wooden table,on brown background

High Court in Masaka has convicted a 22-year-old man for defiling a 10-month-old baby. Moses Rukundo, a resident of Kaboyo, Kisekka Sub County in Lwengo District was convicted by Justice Winfred Nabisinde upon his plea of guilty. Prosecution led by Ivan Nkwasibwe told court that on the fateful day, the victim’s mother asked Rukundo to help her with the baby for a few minutes. However, she was surprised to find him in a bathroom while sleeping on top of the baby with his penis inside the baby’s private parts. Prosecution…

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Things fall apart: Mutebile and other chiefs disown Justine Bagyenda

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Bank of Uganda (BoU) Governor, Mr Tumusiime Mutebile, and two directors yesterday told the Parliamentary inquiry into closed commercial banks that former BoU director for banks supervision, Ms Justine Bagyenda, without authority entered a Memorandum of Understanding that kick-started the closure of Global Trust Bank (GTB) and selling it to the Development Finance Company of Uganda Bank Limited(dfcu) in 2014. Mutebile said Ms Bagyenda’s signing of the MoU between the central bank and duck on July 10 2014 was done without authority of the BoU board and was contravening the…

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Bagyenda aides: Bail ruling date set

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Court has set December 10 for a ruling on the bail application by two Bank of Uganda security personnel who are accused of neglecting their duty. Ms Beatrice Kyambadde and Mr Charles Moro separately appeared before the Magistrate’s Court at City Hall in Kampala yesterday for the hearing and were further remanded to Luzira Prison by Grade One Magistrates; Mr Patrick Talisuna and Ms Beatrice Kayinza. The suspects were remanded for the second time. The duo was separately charged on Monday and remanded until yesterday to allow the state respond…

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ISO probes Lake Victoria boat disaster

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The Internal Security Organisation (ISO) is probing the criminal element in the tragedy, where the MV Templar destined to K-Palm Beach Resort in Mukono capsized near Mutima Beach Resort on Saturday, November 24, leading to the loss of 32 lives. A total of 27 revellers were rescued and some others have been reported missing. ISO Director General Col. (rtd) Kaka Bagyenda, in an interview confirmed that a team had been put in place and they had started their investigations. “We have a team in place that is probing whether there…

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Bagyenda approved bank closure without status reports

justine

The former Bank of Uganda executive director for banking supervision, Ms Justine Bagyenda, cleared the closure of three commercial banks without valuation reports detailing their financial status, bank officials told a parliamentary probe committee yesterday. The act against International Credit Bank (ICB), Cooperative Bank and Greenland Bank, according to testimonies at yesterday’s session, breached provisions of the Financial Institutions Statute. Without valuation reports, lawmakers on Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) questioned what Ms Bagyenda relied on to convince BoU board that the banks were an…

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Justine Bagyenda’s passports confiscated

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The former Bank of Uganda director of supervision for commercial banks at Bank of Uganda, Justine Bagyenda, has been ordered to deposit her two passports with parliament. Bagyenda was on Monday December 3, appearing before the parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase), which is probing the controversial closure of seven commercial banks by the central bank. Earlier, MPs on the Cosase had also wanted that Bagyenda be confined until the probe is over. However committee chairperson Abdu Katuntu did not rule on her confinement. “Ms Bagyenda,…

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MPs order arrest of Bagyenda’s aides over missing BOU documents

cosase

The parliamentary committee investigating the closure of commercial banks yesterday ordered police to arrest the bodyguard and driver of Ms Justine Bagyenda, the former executive Director for supervision at the central bank, in connection with critical documents that were secretly taken away from the bank. The MPs ordered the arrest of Ms Juliet Adikot (bodyguard) and Mr Job Turyahabwe (driver) after the duo gave contradicting testimonies to the committee in relation to Ms Bagyenda’s itinerary on the day three bags were returned to the central bank on February 10, 2018.…

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Things fall apart: BoU security director links Bagyenda to missing reports

BAGYENDAA

The troubles of Ms Justine Bagyenda, the former director of supervision at Bank of Uganda, yesterday deepened further after Mr Milton Opiyo, the Central Bank’s security director, pinned her on the disappearance of critical documents from the bank. Mr Opiyo told the Parliamentary inquiry that Ms Bagyenda’s driver and bodyguard entered BoU’s head office on Kampala Road in the evening of February 11 and made off with a cache of documents in three bags. The Parliamentary committee investigating alleged irregularities by the Central Bank in the closure of seven banks…

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Breaking News: 13 feared dead as many go missing after boat capsizes on Lake Victoria

MUTIMA

Thirteen people have been reported dead while others have been reported missing after a boat they were sailing on capsized on Lake Victoria on Saturday. The boat, which was occupied by revellers on a boat cruise, capsized in Mpatta Sub-County in Mukono District. Prince David Wasajja, a brother to Buganda King Kabaka Ronald Mutebi, was also on board but was rescued. Police spokesman Mr Emilian Kayima confirmed the accident but could not divulge more details by press time. “The Uganda police force marine unit rescues over 40 people alive on…

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Bagyenda snubs Cosase meeting again, she flees the country

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Former Director of Supervision for Commercial banks, Ms Justine Bagyenda who was today (November 23) supposed to appear before the MPs on the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) as the probe into closure of seven commercial banks continues did not show up. Ms Bagyenda wrote to the Bank of Uganda Governor Emmanuel Tumusiime-Mutebile, indicating that she would not appear before the committee today because she had travelled outside the country for some engagements. “This is to inform you that I will be out of the country…

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