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IGG report on Bagyenda’s wealth ready, as IGG launches another audit on Kasekende



Tough questions for these 3 abound, regarding the way they handled the seizure and closure of seven troubled banks

After months of waiting, the Inspectorate of Government report on the incomes, assets and liabilities of the sacked former BoU Executive Director in Charge of Commercial Bank Supervision, is ready, a top official of the IGG has said.

In a phone interview with this news site, Ms Twine Annet Kyakunda, Director of Leadership Code said: “That report is now complete and has been handed over to the IGG heself. It is now in the hands of the IGG herself for handling,” she said.

The audit into Bagyenda’s welath followed a public outcry and whistleblower reports that Bagyenda owned several prime properties across the country and that she had carried out several and suspicious, in billions of shillings, all of which were not commensurate to her official earnings.

Both the IGG and the Financial Intelligence Authority are said to have been investigating Mrs Bagyenda- who according to results of a recent audit by the Auditor General, is largely believed to have illicitly benefitted from the now dubious closure, by the central bank, of 7 troubled banks.

IGG Investigates BoU Deputy Governor, Dr Louis Kasekende

It has also emerged that Dr. Louis Kasekende, the BoU Deputy Governor, is undergoing the same audit, following an 18th October 2018 order, again by the Director, Leadership Code, at the Inspectorate of Government.

According to the letter titled: Verification of Your Declarations of Income, Assets & Liabilities, K

“This is to notify you of the decision by the Inspectorate of Government to conduct a verification of your income, assets and liabilities as provided under Section 4 C of the Leadership Code Act, 2002. The verification exercise shall commence within 7 days from the date of this letter, “ wrote Ms Twine adding that: “Mr Victor Acidri, a senior Principal Inspectorate Officer and Ms. Doreen Tusiime an Inspectorate Officer have been authorized to conduct the verification exercise and obtain information in respect of this matter.”

“Please accord them the necessary assistance and cooperation they require,” further wrote Twine.

Asked on the phone if Kasekende was cooperating, Twine said that this was an investigation covering all Bank of Uganda officials supposed to declare their wealth as per the Leadership Code and did not cover Kasekende only.

Of late, Kasekende’s declaration of wealth has come under public dispute with several leaks indicating he either directly or through family members and proxies owns several properties and shares in several companies, that he did not declare to the IGG.

Neither has Kasekende or any of his family members come out to comment openly on the allegations.

Several BoU officials are being probed by Parliament’s COSASE over the way they handled the statutory seizure and or subsequent disposal of the assets and liabilities of seven defunct banks. The probe, which is being backed by an audit by the Auditor General has uncovered several irregularities and several gaps- that BoU officials are yet to explain.


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